** Brokerage UBS cuts PT on drugmaker Regeneron Pharmaceuticals REGN.O to $560 from $633
** UBS says it has removed smoker's lung drug, itepekimab, from "current collaboration pipeline given the regulatory uncertainty and potential competitor entries"
** Company and partner Sanofi SASY.PA said last week that their experimental drug, itepekimab, failed in a late-stage trial, testing it for a lung disease commonly called "smoker's lung", but met the goal of another trial for the same disease
** UBS says REGN will have higher operating expenses in the near-to-mid term due to integrating 23andMe and increased R&D for obesity treatments
** However, UBS expects these costs to decrease after 2030
** "Eylea franchise weakness remains a key overhang for our near-term REGN thesis" - UBS
** Including session's move, REGN down 31.8% YTD
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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