Merrill keeps Regeneron at neutral

Regeneron Pharmaceuticals Inc. got a neutral rating from Merrill Lynch analyst Hari Sambasivam after the company signed a lucrative collaboration agreement with Bayer for the development and commercialization of VEGF Trap-Eye for the treatment of wet, age-related macular degeneration (AMD), diabetic macular edema (DME) and other eye diseases. Regeneron will receive a $75 million upfront payment, up to $110 million in pre-commercialization milestones and up to $135 million in additional milestones. Shares of the Tarrytown, N.Y.-based biotechnology company were up 90 cents, or 5.03%, at $18.78. (Nasdaq: REGN)

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