Regeneron stock soars as Eylea drug for macular degeneration helps it turn first profit ever

Regeneron Pharmaceuticals Inc., maker of a drug that treats a common cause of blindness, rose to the highest level since it sold shares to the public in 1991 after the company reported its first profitable quarter. Regeneron increased 9 percent to $138.60 at the close in New York. The shares of the Tarrytown, New York-based company have more than doubled in the past 12 months.