Regeneron Pharmaceuticals to Replace MetroPCS in S&P 500 Index

Regeneron Pharmaceuticals Inc. (REGN), maker of the Eylea eye medicine, will replace MetroPCS Communications Inc. in the Standard & Poor’s 500 Index, S&P said in a statement today.

The change will take place after the close of trading on April 30, S&P said.

MetroPCS is merging with Deutsche Telekom AG’s T-Mobile USA Inc. in a transaction that is expected to leave the combined company’s public float below the 50 percent threshold needed for inclusion in the index, S&P said. MetroPCS shareholders approved the sweetened deal today in a crucial vote that gives Deutsche Telekom a chance to revive its U.S. business.

To contact the reporter on this story: Jeff Sutherland in New York at jsutherlan13@bloomberg.net

To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net

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