President Trump received a high dose of an experimental antibody cocktail from Regeneron as part of his Covid-19 treatment. Now the drugmaker's stock is up sharply -- and questions are swirling about the president's ties to Regeneron's billionaire CEO.
Trump's team revealed Friday that the president received the drug, called REGN-COV2, which is being used to alleviate symptoms and reduce viral load. Shares of Regeneron surged 7% Monday, bringing the stock's year-to-date gain to more than 60%. The stock reached its highs of the day after Trump tweeted that he will be leaving the hospital Monday evening.
Regeneron CEO Dr. Leonard Schleifer and President Trump are acquainted: The CEO has been a member at Trump's golf club in Westchester, New York, and his company also received $450 million in government funding in July as part of the president's Operation Warp Speed plan to quickly develop a vaccine and other treatments for Covid-19.
https://www.cnn.com/2020/10/05/investin ... index.html