UPDATE: AstraZeneca (AZN), Sanofi (SNY) Settle Diabetes Drug Patent Suit

October 4, 2016 11:53 AM EDT

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(Updated - October 4, 2016 12:05 PM EDT)

AstraZeneca (NYSE: AZN) and Sanofi (NYSE: SNY) have settled a patent dispute over diabetes drugs, according to Bloomberg.

One spokesperson for Sanofi said, Sanofi is pleased that the pathway, upon appropriate regulatory approval, is clear to bring Adlyxin (Lixisenatide) and investigational iGlarLixi as new treatment options for adults living with type 2 diabetes in the U.S.

Adlyxin received FDA approval in July, while the agency delayed approval of iGlarLixi until November.

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