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Regeneron drug tests upbeat

Biotech Regeneron Pharmaceuticals (REGN) reported more positive trial data on its eye drug Eylea ahead of its Tue. Q4 earnings report. With partner Bayer (BAYRY), Regeneron said patients with diabetic macular edema (DME) continued to do well after 100 weeks on Eylea, with monthly and bimonthly dosings. The report bolsters expectations the FDA will approve Eylea for DME by Aug. Consensus is for Q4 sales to rise 40% to $580.5 mil and profit to drop 20% to 98 cents a share. Regeneron rose 1.4%.