(Bloomberg) -- Sanofi-Aventis SA shares had their
biggest drop in three years, wiping out more than $7 billion in
market value, after a U.S. panel blocked the company's new
weight-loss pill because it was linked to suicides.
The stock fell 4.26 euros to 63 euros at the close of
trading in Paris, the steepest decline since April 2004. The
Paris-based company didn't get a single vote yesterday in favor
of Zimulti from a Food and Drug Administration panel, which found
that patients' weight lost didn't justify danger of the
psychiatric or neurological dangers.
Read more at Bloomberg Stocks News
biggest drop in three years, wiping out more than $7 billion in
market value, after a U.S. panel blocked the company's new
weight-loss pill because it was linked to suicides.
The stock fell 4.26 euros to 63 euros at the close of
trading in Paris, the steepest decline since April 2004. The
Paris-based company didn't get a single vote yesterday in favor
of Zimulti from a Food and Drug Administration panel, which found
that patients' weight lost didn't justify danger of the
psychiatric or neurological dangers.
Read more at Bloomberg Stocks News
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