Regeneron Pharmaceuticals Inc., maker of the Eylea eye medicine, will replace MetroPCS Communications Inc. in the Standard & Poor’s 500 Index, S&P said in a statement Wednesday.
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 Wednesday in a crucial vote that gives Deutsche Telekom a chance to revive its U.S. business.