NEW YORK (TheStreet) -- Shares of Regeneron
(REGN) are up almost 10% in Wednesday's trading session, and the stock was the focus on CNBC's "Cramer's Mad Dash" segment.
The company is having a "breakthrough" with its cholesterol drug. Its other drug, Eylea, was just approved by the Food and Drug Administration following positive Phase III results, according to TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio.
It's cholesterol treatment is the world's first alternative to statin drugs, which many people are allergic too, he said.
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Biotechnology stocks continue to move higher, while large-cap pharmaceutical stocks remain stagnant amid slower growth.
is the "cheapest drug company I follow," Cramer concluded, before adding that Regeneron's cholesterol drug could become a household product in the future.
-- Written by Bret Kenwell in Petoskey, Mich.
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