By Kimberly Chin

Regeneron Pharmaceuticals Inc. (REGN) and Sanofi SA (SAN.FR) said a European regulatory panel had issued a positive opinion and recommended conditional approval for their drug that treats patients with a common type of skin cancer.

If the drug, Libtayo, wins approval from the European Commission, it would be the first and only treatment for some patients with an advanced form of carcinoma in Europe.

Libtayo, which is jointly developed by Regeneron and Paris-based Sanofi, is a prescription medicine that treats carcinoma patients with who cannot be cured by surgery or radiation.

The companies said they will need to provide regulators with additional data from a new group trial to help confirm the benefits and risk profile of the drug.

European regulators could make a final decision on Libtayo within the coming months, the companies said.

Shares of Regeneron were down 2.5%, while shares of Sanofi rose 3.5% on Friday.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

April 26, 2019 12:33 ET (16:33 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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