Sanofi Faces Surprise HQ Search As French Authorities Expand Tax Probe

Sanofi SA's (NASDAQ:SNY) Paris headquarters received an unannounced visit on Tuesday as tax investigators, accompanied by prosecutors and specialist aides, searched the site amid a widening financial probe.

French prosecutors confirmed that Sanofi is the focus of a preliminary investigation launched in January 2024 into alleged "money laundering of tax fraud," including potential involvement by an organized group and possible criminal conspiracy, Le Monde reported.

The company said it used a Société Générale financing structure tied to an acquisition more than a decade ago — a structure now under scrutiny. Sanofi maintains that it has complied with all applicable laws, is preserving its legal rights, and will cooperate with authorities.

Also Read: Regeneron’s Q3 Earnings Outperform Expectations With Dupixent Strength Balancing Eylea Weakness

On Tuesday, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) and Sanofi announced that the European Commission (EC) approved Dupixent (dupilumab) for moderate-to-severe chronic spontaneous urticaria (CSU) in adult and adolescent patients 12 years and above with inadequate response to histamine-1 antihistamines (H1AH) and who are naïve to anti-immunoglobulin E (IgE) therapy for CSU.

The approval is based on data from two Phase 3 clinical trials in the LIBERTY-CUPID program.

Both trials assessed Dupixent as an add-on therapy to standard-of-care antihistamines compared with antihistamines alone and demonstrated that Dupixent significantly reduced urticaria activity (a composite of itch and hives) and individual measures of itch and hive severity compared with placebo at 24 weeks.

Dupixent also increased the percentage of patients with well-controlled disease and complete response at 24 weeks compared to placebo.

Price Action: REGN stock is up 2.66% at $781.69, and SNY stock is up 1.55% at $49.91 at the last check on Tuesday.

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