** Shares of drugmaker Regeneron REGN.O rise 3.5% to $591.78
** U.S. FDA has extended the target action dates for two applications of the high-dose version of REGN's eye disease drug, Eylea, to the fourth quarter
** Earlier this month, REGN said it expected a delay due to an inspection at contract manufacturer Catalent's site, which was acquired by Danish drugmaker Novo Nordisk NOVOb.CO
** This outcome is an improvement on expectations, with investors likely anticipating longer timelines for regulatory decisions - BMO Capital Markets
** This development is also positive for Scholar Rock SRRK.O, which produces its drug for a rare neuromuscular disease at the affected facilities - BMO
** Shares of SRRK, which is expecting FDA's decision on the experimental drug for spinal muscular atrophy by September 22, gain 12.90% to $34.01
** REGN shares down 17%, while SRRK stock fell 21%, YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))
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