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Regeneron says Eylea approved in European Union

TARRYTOWN, N.Y. (AP) -- Regeneron Pharmaceuticals Inc. said Tuesday that European Union regulators approved its eye drug Eylea.

The European Commission approved the drug as a treatment for "wet" age-related macular degeneration, the leading cause of blindness in the elderly. U.S. regulators approved Eylea as a treatment for wet AMD in 2011. Earlier this year they approved it as a treatment for another eye condition called central retinal vein occlusion.

Eylea was also approved this year in Japan, Australia, and Switzerland.

Shares of Regeneron rose 7 cents to $174.46 in morning trading.