Regeneron falls on atopic dermatitis data for AbbVie's upadacitinib

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) lost $28.30 to $471.92 on Thursday and shed more than $2.9 billion in market cap after AbbVie Inc. (NYSE:ABBV) reported that its atopic dermatitis candidate upadacitinib (ABT-494) met the primary endpoint in a Phase IIb trial to treat moderate to severe atopic dermatitis. Next year, AbbVie plans to start Phase III testing of the small molecule Janus kinase-1 (JAK-1) inhibitor in the indication.

Regeneron and partner Sanofi (Euronext:SAN; NYSE:SNY) market atopic dermatitis drug Dupixent dupilumab, a human mAb targeting the alpha subunit of the IL-4 receptor (CD124; IL-4RA) and the IL-13 receptor...