TARRYTOWN, N.Y. (AP) — Regeneron Pharmaceuticals Inc. said Friday that a European Union regulatory panel is recommending approval for the drug Eylea as a treatment for a common cause of blindness.
Regeneron said it received a positive recommendation from a panel that advises the European Medicines Agency. It has asked the agency to approve Eylea as a treatment for "wet" age-related macular degeneration, the leading cause of blindness in the elderly. Regeneron expects the European regulator to make a decision on its application during the fourth quarter.
The Food and Drug Administration approved Eylea in November.
Regeneron has also asked the FDA to approve Eylea as a treatment for another eye condition called central retinal vein occlusion. The FDA is scheduled to make a decision on that application by Sunday.
Shares of Regeneron Pharmaceuticals rose 30 cents to $146.52 in midday trading. Its shares have slipped 5 percent from a 52-week high of $153.98 on Sept. 6. They traded as low as $49.58 in mid-November of 2011.