Trading in shares of Tarrytown, NY-based Regeneron Pharmaceuticals (NASDAQ: [[ticker:REGN]]) was halted today in advance of an FDA advisory panel meeting to discuss the company’s treatment for age-related macular degeneration, aflibercept (also known as VEGF Trap-Eye), according to a press release. On June 15, the FDA released documents ahead of the meeting that indicated the agency believes the drug is effective and doesn’t raise any major safety concerns. The FDA is expected to hand over its final decision on aflibercept—which Regeneron hopes to market under the brand name Eylea—by August 20. Shares traded up 6 percent on Wednesday to $61.05 before settling down to a closing price on June 16 of $56.72.
Author: Arlene Weintraub
Arlene is an award-winning journalist specializing in life sciences and technology. She was previously a senior health writer based out of the New York City headquarters of BusinessWeek, where she wrote hundreds of articles that explored both the science and business of health. Her freelance pieces have been published in USA Today, US News & World Report, Technology Review, and other media outlets. Arlene has won awards from the New York Press Club, the Association of Health Care Journalists, the Foundation for Biomedical Research, and the American Society of Business Publication Editors. Her book about the anti-aging industry, Selling the Fountain of Youth, was published by Basic Books in September 2010.
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