Allergan delays drug that would rival Regeneron’s Eylea

By Esha Dey and Ransdell Pierson (Reuters) – Allergan Inc said approval of its Darpin eye drug could be delayed up to two years, providing a new boost to Regeneron Pharmaceuticals Inc whose successful treatment, Eylea, stands to gain from a lack of new competition. Shares of Allergan, which makes wrinkle treatment Botox, fell 13.1 percent after the company said mid-stage trial results of Darpin did not warrant an immediate move into far larger late-stage trials. Regeneron shares closed up 10.3 percent. …