Breaking News

Regeneron Declines as Amgen Prevails in Eylea Biosimilar Case; RBC Remains Optimistic

Shares of Regeneron Pharmaceuticals Inc experienced a significant decline on Monday after a U.S. court dismissed the company’s efforts to prevent Amgen Inc from launching its proposed copy of the eye-care drug Eylea.

However, analysts at RBC believe that the market’s reaction to the news was exaggerated and view it as a buying opportunity. While they acknowledge that the potential earlier-than-expected debut of an Eylea biosimilar poses challenges for Regeneron, they remain optimistic about the company’s strong oncology pipeline and its overall future prospects.

Judge Thomas Kleeh in Virginia denied Regeneron’s request for a preliminary injunction against Amgen, which was accused of infringing multiple patents in the development of its Eylea copy, Pavblu.

As a result, Regeneron’s stock dropped 4.6% to $1,091.98 on Monday, remaining flat during after-hours trading. Eylea generated nearly $6 billion in U.S. sales for Regeneron in 2023, and the introduction of Pavblu, a biosimilar for the eye treatment, could impact those sales. However, Amgen has yet to provide a timeline for the release of Pavblu.

Biosimilars are akin to generics in the pharmaceutical industry, though they cannot be replicated exactly due to the use of living cells.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker