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Regeneron, AstraZeneca to develop obesity treatment

Regeneron, AstraZeneca to develop obesity treatment
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Shares of Regeneron Pharmaceuticals Inc. were down 0.1% in premarket trading on Tuesday after the company announced a deal with AstraZeneca to develop and commercialize obesity treatments that target a specific gene, GPR75. The companies will split development costs and profits if the drug is successful. Regeneron's stock is up 19.6% so far this year, while the S&P 500 has gained 17.7%.