Regeneron’s therapy for rare heart disorder gets approved by FDA
Shares of Regeneron Pharmaceuticals Inc.
REGN,
were up 0.7% in premarket trading on Friday, the day after the company said it received regulatory approval in the U.S. for its homozygous familial hypercholesterolemia treatment. The wholesale acquisition cost of treatment is $450,000 per year, though the price may fluctuate based on an individual’s weight. The Food and Drug Administration approved Evkeeza as an adjunct to some other cholesterol-lowering therapies for patients who are 12 years old or older. The rare condition affects about 1,300 people in the U.S. Evkeeza reduced a certain type of cholesterol by 49% when compared to placebo among patients participating in a late-stage clinical trial. Regeneron’s stock has gained 20.7% over the past 12 months, while the S&P 500
SPX,
is up 16.6%.
