An anti-cholesterol drug being co-developed by Sanofi (NYSE: SNY) and Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) has shown positive results in two Phase II trials the companies reported this morning. The investigational drug, SAR236553/REGN727, reduced levels of LDL-C, or “bad,” cholesterol in 40%-72% of patients who were taking stable doses of statin drugs.
The drug could be important in helping patients reduce cholesterol levels further when they reach the limitations of what a statin drug can do, according to a press release.
The news has boosted Regeneron shares to a new 52-week high of $121.14, up more than 1%. Sanofy’s ADS are also up about 1% at $38.72.