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Sanofi Just Can’t Catch a Break, Knocking at Major Support Again

Investor sentiment surrounding French pharma giant Sanofi S.A. (NYSE: SNY) continues to sour after a string of disappointing news in recent months has brought its shares down below the key $39 handle for the ninth time this year. Major five-year support rests at $37 from way back in 2012, less than 4% away from where the stock is now. At this point, bad news is coming in consistently to the point that any significant piece of good news could catapult the stock higher, making Sanofi an interesting choice for dip-buyers.

The latest setback the company has had stems from a missed opportunity triggered back in 2015 that only now has come back to haunt it. Last year, Sanofi’s Auvi-Q, its own version of the popular EpiPen adrenaline shot by Mylan N.V. (NASDAQ: MYL), suffered a recall that ultimately led to the product being pulled from shelves and taken off the market completely early in 2016. Now it’s Mylan in the hot seat after being rebuked by Democratic presidential candidate Hillary Clinton for raising the price of its EpiPen.

Clinton, back in 2015, had...