Regeneron Pharmaceuticals (REGN) rose Monday after the Food and Drug Administration approved a higher-dose formulation of Eylea, the corporate’s macular degeneration treatment.
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CNBC’s Jim Cramer said on “Squawk on the Street” that Regeneron is one in all his favorite health-care names, describing Eylea as “a remarkable drug for macular degeneration.” The “Mad Money” host thinks the corporate’s stock will proceed to go up, citing CEO Leonard Schleifer’s track record in management.
“I feel being up [11 points] just isn’t enough,” Jim said as shares traded $11 higher. “I feel it should be price more.”
- The CNBC Investing Club with Jim Cramer doesn’t own Regeneron. However the Club does own health-care stocks, including Eli Lilly (LLY), which has been soaring to record high after record high. Cramer’s case for Lilly centers on its recent diabetes drug, which is anticipated to get regulatory approval to also treat obesity. Lilly also has an Alzheimer’s drug in FDA review.
Here’s a full list of the stocks in Jim’s Charitable Trust, the portfolio utilized by the CNBC Investing Club.
