WHO recommends Regeneron's monoclonal antibody treatment for COVID-19

Shares of Regeneron Pharmaceuticals Inc. REGN, -3.19% were down 0.1% in premarket trading on Friday after the World Health Organization recommended its monoclonal antibody as a treatment for COVID-19. The global body says the combination treatment can be used in COVID-19 patients who are at high risk of severe disease as well as in severe and critically ill COVID-19 patients who have not yet developed antibodies. The therapy has generated $3.5 billion in revenue in the first half of 2021. "WHO also calls for the sharing of technology to allow for the manufacturing of biosimilar versions so all patients who may need this treatment have access to it," it said in a statement on Friday. So far this year, Regeneron's stock is up 33.8%, while the broader S&P 500 SPX, -0.17% has gained 18.4%.