By Inti Landauro

PARIS--The U.S. Food and Drug Administration has granted a priority review to evaluate the request to market Praluent, a new drug intended to treat hypercholesterolemia and developed by pharmaceutical labs Sanofi (SAN.FR) and Regeneron (REGN), the two firms said Monday.

The goal of the priority review is to get a decision on the application to get a biologics license which gives permission to introduce the drug into interstate commerce, within six months, or on July 24, the two firms said in a statement Monday.

Earlier this month, the European Medicines Agency accepted for review a request for market authorization of the drug, also known as alirocumab, the two companies said.

-Write to Inti Landauro at inti.landauro@wsj.com

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