Woodlands-based pharma co. to receive $260M in drug dispute settlement

The Woodlands-based Lexicon Pharmaceuticals Inc. (Nasdaq: LXRX) will receive $260 million in a settlement payment related to one of its drug candidates.

French pharmaceutical company Sanofi SA (Nasdaq: SNY) will pay Lexicon Pharmaceuticals $260 million under the terms of the settlement, according to a Sept. 10 press release. Some $208 million is payable upfront, with the remainder to be paid to Lexicon within 12 months, the company said.

In addition to the settlement payout, Lexicon announced…

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