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Biotech / Medical : Regeneron Pharmaceuticals

REGN 730.68

-1.5%

2:08 PM EST

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To: Patrick Slevin who wrote ()	3/20/1997 10:13:00 PM
From: harkenman	of 3559

P&G Unit Closes $10M Investment In Regeneron Pharma>PG REGN Dow Jones News Service -- March 20, 1997 TARRYTOWN, N.Y. (Dow Jones)--Procter & Gamble Co.'s (PG) Procter & Gamble Pharmaceuticals Inc. unit completed its investment of $10 million in Regeneron Pharmaceuticals Inc. (REGN) stock, and received 800,000 shares for $12.50 a share. In a press release Thursday, Regeneron said the P&G investment is part of an agreement aimed at discovering and developing therapeutic drugs for muscle diseases and disorders. As reported Dec. 12, 1996, P&G is expected to make up to five additional annual $3.75 million payments to support the collaborative muscle research. Profits from any new drugs, which are expected to take years to develop, will be shared equally, Regeneron said. Regeneron applies molecular and cell biology to develop potential therapeutics for human medical conditions. Shouldn"t the stock trade at $12.5

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