Regeneron falls after OIG recommends payment code for competitor

theflyonthewall.com

Regeneron (REGN) is retreating after the Office of Inspector General, or OIG, of the Department of Health and Human Services, recommended that the Centers for Medicare and Medicaid establish a national payment code for Roche's Avastin, a treatment for wet AMD, which is a leading cause of vision loss in people aged 60 and older. The Inspector General also recommended that CMS educate doctors about clinical and payment issues related to Avastin and another wet AMD treatment called Lucentis. CMS agreed to the second recommendation but not the first, the Inspector General said. Regeneron has developed a third treatment for wet AMD called Eylea. In mid-afternoon trading, Regeneron lost $2.65, or 2.10%, to $123.65.

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