Shares of Regeneron Pharmaceuticals (REGN) climbed almost 4% in Wednesday morning trading after a late stage trial of a new cholesterol drug showed promising results.
Alirocumab, developed in partnership with Sanofi (SNY), is an injectable drug designed to combat LDL cholesterol by attacking PCSK9, a key protein. The drug had been previously tested reducing LDL cholesterol by 70% when administered in combination with other treatments. In the new study, the drug reduced LDL cholesterol by 47% when used by itself, Reuters noted.
Analysts say that injectable cholesterol drugs like Alirocumab could generate revenue of $3 billion a year.
Included in the study were some patients who were only administered Merck‘s (MRK) Zetia cholesterol drug. Patients taking Zetia saw a 15.6% decline in cholesterol levels during the study.
Shares of Sanofi rose slightly in Wednesday morning trading, while Merck moved up almost 1%.