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Allergan Inc. (AGN) Delays Drug That Would Rival Regeneron Pharmaceuticals, Inc. (REGN)'s Eylea



5/2/2013 9:10:22 AM

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Allergan Inc said approval of its Darpin eye drug could be delayed up to two years, providing a new boost to Regeneron Pharmaceuticals Inc whose successful treatment, Eylea, stands to gain from a lack of new competition. Shares of Allergan, which makes wrinkle treatment Botox, fell 13.1 percent after the company said mid-stage trial results of Darpin did not warrant an immediate move into far larger late-stage trials. Regeneron shares closed up 10.3 percent. If eventually approved, Darpin would also compete with Roche Holding AG's, Lucentis, to treat age-related macular degeneration - the most common form of blindness in the elderly.

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