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DewDiligence

10/17/11 6:34 PM

#128673 RE: mcbio #128580

REGN sells $460M* of convertible debt on terms to be announced:

http://finance.yahoo.com/news/Regeneron-Pharmaceuticals-prnews-277497583.html?x=0&.v=1

Now is a good time to do it—before investors figure out that Eylea is going to be a commercial dud!

*Assuming exercise of the underwriter’s 15% overallotment option.