AstraZeneca, Sanofi Cut Programs

AstraZeneca has ended development of fostamatinib, a spleen tyrosine kinase inhibitor, after two Phase III trials in rheumatoid arthritis patients failed to live up to the potential seen in earlier studies. In 2010, AstraZeneca paid Rigel Pharmaceuticals $100 million up front for access to the drug. The British firm is returning the rights to Rigel and will take a $140 million charge to its second-quarter R&D expenses for the pipeline loss. Separately, Sanofi is ending development on two compounds, the anticancer compound iniparib and the anticoagulant otamixaban, which both flunked Phase III studies. Sanofi expects the charge related to ditching iniparib will have an impact of $285 million on its net income, but it specified no charge on otamixaban.