Why Is Regeneron Pharmaceuticals Moving Higher Today?
Portfolio Pulse from Vandana Singh
Regeneron Pharmaceuticals Inc's Q2 adjusted EPS rose 5% Y/Y to $10.24, beating the $9.92 Street estimate. Revenues increased 11% Y/Y to $3.16 billion, beating the consensus of $3.01 billion. However, Eylea U.S. net sales decreased by 7% to $1.5 billion due to increased competition. The FDA is reviewing Regeneron's aflibercept 8 mg Biologics License application and requires additional data from Catalent Inc. The U.S. Supreme Court ended a patent dispute related to Praluent, ruling that Amgen Inc's asserted U.S. PCSK9 patent claims were invalid.
August 04, 2023 | 1:41 pm
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Ascending
NEGATIVE IMPACT
The U.S. Supreme Court ruled that Amgen's asserted U.S. PCSK9 patent claims were invalid, ending a patent dispute with Regeneron.
The Supreme Court's ruling against Amgen's patent claims could negatively impact the company as it loses the patent protection for its product.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
NEUTRAL IMPACT
Catalent is required to provide additional manufacturing data for Regeneron's aflibercept 8 mg Biologics License application.
The FDA's requirement for additional data from Catalent for Regeneron's application could potentially delay the approval process, creating some uncertainty for Catalent.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Regeneron's Q2 earnings beat estimates but Eylea U.S. net sales decreased. The company is also dealing with regulatory issues with the FDA.
Regeneron's better-than-expected Q2 earnings and resolution of the patent dispute with Amgen are positive news that could boost the stock. However, the decrease in Eylea sales and ongoing FDA review could create some uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100