French prosecutors probe Sanofi over possible market manipulation
World
French prosecutors probe Sanofi over possible market manipulation
PARIS (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 information 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.
