Regeneron (REGN -8.5%
) dives after privately-owned Opthotech reports positive Phase 2b results
for its Fovista drug. Fovista, working in tandem with Roche's (RHHBY.PK
) Lucentis, treats a form of macular degeneration
, and stands to compete with Regeneron's Eylea
. Lucentis. Jefferies is defending
Regeneron, arguing Fovista could just as well work in tandem with Eylea.