CONTACT: Amgen, Thousand Oaks Christine Regan, 805-447-5476 (media) Arvind Sood, 805-447-1060 (investors)(Logo: http://photos.prnewswire.com/prnh/20081015/AMGENLOGO) SOURCE Amgen
Tech, healthcare slide weighs on rest of markets.
The iShares NASDAQ Biotechnology Index ended the five days ended Friday, June 23 up 26% to close at $370.74.
The main headwind for Regeneron is that Swiss pharma giant Novartis could soon be a rival to the eye drug that drives most of Regeneron's revenue.
The main thrust of the order appears to be easing regulatory hurdles to drug approvals, which could lower the cost of bringing new treatments to market and thus lower prices.