Regeneron Has in Line Third Quarter; Bullish on Near-Term Praluent Outcomes Data; Fair Value Intact
Regeneron’s third-quarter performance was in line with our forecast, with strong performance for ophthalmology drug Eylea and continued slow demand for LDL-lowering drug Praluent. Global sales of Eylea grew 20% in the quarter (16% in the U.S. and 27% outside the U.S.) to reach more than $1.3 billion, and we’re slightly raising our 2016 growth estimates for U.S. sales to correspond with management’s updated guidance (23%-25%, narrowed from 20%-25%). However, long-term share gains are becoming mor...Regeneron Pharmaceuticals is a biotechnology company that discovers, invents, develops, manufactures, and commercializes medicines for the treatment of diseases. The company's commercialized medicines and product candidates in development are designed to assist patients with eye disease, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neuromuscular diseases, infectious diseases, and rare diseases. The company's products include: EYLEA (aflibercept) injection, which is used for the treatment of neovascular age-related macular degeneration, diabetic macular edema; and Dupixent (dupilumab) injection, which is used for the treatment of adult patients with atopic dermatitis.
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