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STAT Plus: Allergan trial results for a new eye treatment are underwhelming to Wall Street

As Allergan (AGN) labors to keep restive hedge funds at bay, clinical trial results for an experimental eye treatment that would compete in a lucrative market made an underwhelming impression on Wall Street.

The drug maker released findings from a pair of late-stage studies for a medicine called Abicipar, which is being developed to combat wet age-related macular degeneration, a common illness that can cause blindness in the elderly. Currently, the market for these injectable products is dominated by Eyelea, which is sold by Regeneron Pharmaceuticals (REGN), and Lucentis, a Roche (RHHBY) treatment.

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