The big pharma news cycle is over: The news is going down, said Andreo Lopes
A big pharmas stock is on the rebound, with its price going up, according to Reuters.
Regeneron Pharmaceuticals Inc (REGEN) reported its fourth-quarter profit fell 11% to $1.26 billion, while the share price rose 17%.
The company’s shares have climbed from a low of $6.99 to $6,096 since January 20.
Regen is the only drug company listed in the Dow Jones Industrial Average.
Regens CEO Andreo “LaVoy” Lopes said in a press release on Thursday that the stock was up “significantly” in 2017 due to improved growth and better drug pricing.
Regeners revenue jumped 26% to more than $1 billion, and the stock rose 7% to nearly $4.20.
Regenes stock rose 5% in after-hours trading.