Regeneron Rises After Novartis's Eye-Drug Trials Disappoint
- Stock gains after dosing outcomes for Eylea rival disappoint
- Eylea accounts for nearly 65% of Regeneron’s overall sales
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Regeneron Pharmaceuticals Inc. had its biggest intraday gain in more a month after a rival’s drug that would compete with the company’s main sales driver fared less well than expected in a clinical trial.
The drugmaker’s shares climbed as much as 7 percent Tuesday, the biggest gain since May 4. They were up 5.4 percent to $496.99 at 2:47 p.m. in New York.