Report
Karen Andersen
EUR 101.80 For Business Accounts Only

Regeneron's Eylea franchise and Dupixent potential underpin a narrow moat.

We’re maintaining our Regeneron fair value estimate of $520 per share after a strong second quarter. Eye disease drug Eylea’s 11% U.S. and 12% international sales growth reflected steady demand despite hints of increased U.S. discounting in the first quarter, and we’re raising our assumption for Eylea growth to match the raised 10% U.S. sales guidance. While Eylea sales are maturing and the drug faces new competition (Novartis’ brolucizumab/RTH258 filing in 2018) that can be dosed less frequentl...
Underlying
Regeneron Pharmaceuticals Inc.

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.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Karen Andersen

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