Regeneron-Sanofi drug receives FDA approval to treat COPD

Shares of Regeneron Pharmaceuticals (REGN) and Sanofi (SNY) rose slightly on Friday after their treatment for chronic obstructive pulmonary disease (COPD) received approval from the Food and Drug Administration (FDA).

The drug Dupixent is the first biologic drug approved in the United States to treat COPD, a respiratory disease that restricts airflow and damages the lungs. The companies reported that the treatment resulted in at least a 30% reduction in the annual rate of moderate or severe COPD in two phase 3 trials.

COPD approval expands the possible uses of medications

Dupixent was previously approved for the treatment of other conditions, including atopic dermatitis and asthma.

Shares of Regeneron rose 0.2% on Friday, while U.S.-listed Sanofi shares rose 1.1%. The companies' shares have risen about 19% and 16%, respectively, since the beginning of the year.