Sanofi (NASDAQ:SNY) announced on Tuesday that it has stopped supplying Praluent in China due to limited availability of the popular cholesterol medication.
The French pharmaceutical company cited a surge in demand as the reason for the supply constraints, which have affected China and several other countries.
"The surge in demand has led to limited availability in China, and some other countries," Sanofi said in a statement, adding that "at the moment Praluent’s supply in China has already stopped."
Praluent was jointly developed by Sanofi and Regeneron (NASDAQ:REGN) Pharmaceuticals. The company did not provide information about when the supply of the cholesterol drug would resume in the Chinese market.
Sanofi mentioned it had "invested to strengthen global production of Praluent, to meet a rising global demand which accelerated sharply over the past two years."
Source :
https://www.investing.com/news/stock-market-news/sanofi-halts-praluent-supply-in-china-due-to-limited-availability-4184465
