Sanofi, Lexicon sign diabetes license and collaboration deal

(Reuters) - Sanofi has agreed to collaborate with Lexicon Pharmaceuticals on Sotagliflozin, a potential oral treatment for people with diabetes, the French drugmaker said on Friday. Lexicon will receive an upfront payment of $300 million under the collaboration and license deal, Sanofi said in a statement. Lexicon could also receive development, regulatory and sales milestone payments of up to $1.4 billion, as well as rising double-digit percentage royalties on net sales of Sotagliflozin. (Reporting by Alan Charlish; Editing by James Regan)