Shares of Regeneron Pharmaceuticals and Sanofi edged higher Friday after their drug to treat chronic obstructive pulmonary disease received approval from the Food and Drug Administration.

The U.S. Food and Drug Administration has approved Sanofi and Regeneron's blockbuster drug Dupixent for patients with a chronic lung disease, commonly known as "smoker's lung", the companies said on Friday.

After more than a decade without any therapeutic advancements in chronic obstructive pulmonary disorder (COPD), people with the progressive disease suddenly have two new options, with more likely o | Regeneron and Sanofi have announced that the FDA has expanded the label of megablockbuster Dupixent to treat COPD.