7/2/2014 6:54:28 AM
(Reuters) - French drugmaker Sanofi SA will raise its stake in Regeneron Pharmaceuticals Inc to 22.5 percent, Sanofi said in a U.S. regulatory filing Tuesday, as part of an agreement between the companies allowing Sanofi to buy up to 30 percent.
Regeneron shares gained 4 percent, or $11.45, to $294.01 in early trading.
The two companies have several drug development partnerships, including potential multi-billion dollar cholesterol drugs, and Sanofi had a 20.5 percent stake in Regeneron as of April 7.
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