French prosecutors probe Sanofi over possible market manipulation -source (updated)
07/11/2023 10:55
(Recasts lead with confirmation, adds detail)
PARIS, Nov 7 (Reuters) -
French financial prosecutors have opened a preliminary probe
into drugmaker Sanofi SASY.PA over possible share price
manipulation, a person close to the investigation said on
Tuesday, while the company said it was unaware of any criminal
investigation into its past financial reporting.
The person close to the investigation confirmed earlier
reports from French media La Lettre and news agency AFP, which
said a preliminary probe was opened in March and was linked to
possible market manipulation caused by the group's past
financial communication.
La Lettre reported the investigation was linked to
Sanofi's communication around the launch of its blockbuster drug
Dupixent in 2017.
"As a listed company, the financial informations
published by Sanofi are accurate, precise and sincere, and are
duly audited by two auditing firms," Sanofi said in an emailed
statement.
It said it was "not aware of any preliminary
investigation by the Parquet National Financier on its 2017
accounts or of any other investigation", adding it reserved the
right to take legal action against any false or defamatory
allegations.
Sanofi shares were down by as much as 2% midday on
Tuesday.
(Reporting by Tassilo Hummel;
Editing by Silvia Aloisi)
((tassilo.hummel@thomsonreuters.com ; Twitter handle:
@tassilo_hummel;))