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Why Regeneron Wasn't a Healthy Stock Today

TheMotleyFool

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Why Regeneron Wasn't a Healthy Stock TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Regeneron Pharmaceuticals (NASDAQ: REGN) had a day to forget, at least as far as its stock was concerned. The company's shares took a more than 4% hit after the company announced a pricey deal in the oncology space.

Regeneron announced that it's buying out its partner Sanofi's (NASDAQ: SNY) stake in Libtayo, the cancer drug on which they've collaborated.

Under the terms of the arrangement, Regeneron would hold the exclusive development, commercialization, and manufacturing rights to the medication worldwide. The pharmaceutical company will also take in 100% of global net sales. Conversely, it will also be solely responsible for expenses related to the drug.

Source Fool.com

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