Regeneron Pharmaceuticals Inc (NASDAQ:REGN) decreased 2.39% to $133.57. According to report from Reuters, U.S. Food and Drug Administration has approved Sanofi SA's and Regeneron Pharmaceuticals Inc's Zaltrap for use in combination with a folinic acid, fluorouracil and irinotecan chemotherapy regimen to treat adults with colorectal cancer.
The Street Ratings upgraded the rating on the stock from hold to buy.
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Galena Biopharma Inc (NASDAQ:GALE) surged up 4.70% to $1.56. The Company announced the issuance of a patent from the Japan Patent Office for a Composition of Matter and Method of Treatment patent covering Folate Binding Protein peptide variants for use either alone or in combination with the FBP cancer vaccine, E39. The Japanese patent provides exclusivity in the country until 2022 with additional worldwide patent filings pending.
Taro Pharmaceutical Industries Ltd (NYSE:TARO) declined 3.59% to $39.50. Sun Pharmaceutical Industries Ltd and Taro Pharmaceutical Industries Ltd have entered into a merger agreement together with certain affiliates of Sun Pharma. The shareholders of Taro will receive a cash payment of $39.50 per share upon the closing of the merger. Taro will become a privately held company and will be wholly owned by affiliates of Sun Pharma after the completion of the merger.
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Sanofi SA (ADR) (NYSE:SNY) went down 0.48% to $41.40. The Company said that U.S. Food and Drug Administration have approved Auvi-Q for the emergency treatment of life-threatening allergic reactions in people who are at risk for or have a history of anaphylaxis.
Elan Corporation plc (ADR) (NYSE:ELN) increased 5.32% to $11.68. The Company would spin off its Neotope drug discovery business platform as a separate public company. The decision to split the company was due to the failure of an experimental Alzheimer's drug being developed with Pfizer and Johnson & Johnson. The completion of the spin-off is expected by the end of 2012.