Regeneron off after judge bars U.S. Praluent sales

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) slipped $22.24 to $358.68 on Friday as investors digested Thursday's news that a federal judge granted a permanent injunction barring U.S. sales of hypercholesterolemia treatment Praluent alirocumab. With the move, Regeneron shed more than $2.3 billion in market cap.

The judge ruled in a patent infringement lawsuit filed by Amgen Inc. (NASDAQ:AMGN), which markets competing PCSK9 inhibitor Repatha evolocumab (see BioCentury Extra, Jan. 5)...