$Regeneron Pharma(REGN.US) plunged in pre-market trading. The core trigger was the simultaneous announcement of two Phase III trial results (one success, one failure) for Itepekimab, a COPD biologic drug developed in collaboration with Sanofi, sparking market concerns about the drug's approval probability and commercial prospects. The company's recent setbacks in its core product Eylea and increasing competition have further exacerbated negative sentiment.
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