Regeneron (REGN) Good Fortune
November 11, 2009 · Filed Under R&D
Sanofi-Aventis and Regeneron Pharmaceuticals (NASDAQ:REGN) said they expanded an existing development partnership to run through 2017. The previous arrangement ended in 2012.
Under the expanded deal, the companies plan on advancing up to five antibodies into clinical development each year, with Sanofi-Aventis funding up to $160 million annually for Regeneron research until the end of 2017 — up from prior funding levels of $100 million annually.
Regeneron’s shares are up 17% to $18.58 giving the company a market cap of $1.5 billion.
Douglas A. McIntyre
