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Monday, February 11, 2013

Regeneron says Sanofi plans to purchase shares, (NASDAQ: REGN), (NYSE: SNY)

Regeneron Pharmaceuticals Inc on Monday said it has received notice that Sanofi SA intends to acquire Regeneron's common stock through open market purchases and direct purchases from shareholders. As a result, Sanofi intends that the value of its ownership of voting securities of Regeneron stock will be above the $500 million Hart-Scott-Rodino Act notification threshold, Regeneron said.Neither company could immediately be reached for commentThe two companies have a longstanding agreement to develop medicines together, including promising treatments for cholesterol and arthritis.Regeneron is best known for its blockbuster drug Eylea for macular degeneration, which it owns alone.

Regeneron Pharmaceuticals, Inc. (Regeneron) is an integrated biopharmaceutical company, which discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. Shares of REGN traded higher by 7.73% or $12.83/share to $178.71. In the past year, the shares have traded as low as $94.22 and as high as $188.95. On average, 836831 shares of REGN exchange hands on a given day and today's volume is recorded at 450377.

Sanofi SA, formerly Sanofi-Aventis, is a global and diversified healthcare company. Shares of SNY traded higher by 2.49% or $1.16/share to $47.68. In the past year, the shares have traded as low as $33.03 and as high as $49.56. On average, 1541460 shares of SNY exchange hands on a given day and today's volume is recorded at 911767.



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