Let me make record straight, ….I feel that way.
Otherwise I may implode/explode inside-out.
REGN was a SHIT company from 1988 to 2011/12. They didn’t have any good science in lab, their R&D focus was on wrong targets, they wasted money all over the place. Schlef (CEO) was GOOD about EXTACTING money from others comps to pay for their failures and eventually developing something good in Lab. While many bio-friends/freaks think and feel that Yan is motor-brain at REGN, I question his work up to 2012. While GNE was developing Avastin/Lucentis based on their in-house science, REGN (YAN) own VEGF-Trap (Afl.) WAS ROTTING IN LAB SHELVES ..waiting for better days (or until GNE prove that anti-VEGF has great value/potential). Great leader, Great General,… after the battle.
At that time, REGN spent SH money on Axokine, knowing that drug has zero chance to work, due to drug-neutralizing antibody formation. That did not stop them at all.
REGN wheel of fortune turned around, like at some other “great bios-science comp” like CELG (Thalidomide fortune), yes right…, Aflibercept worked for AMD, market (US-MDs acted as true PATRIOTS and rejected Roche’s Lucentis while promoting US-born EYLEA) accepted and sale skyrocketed. Now REGN management started self-promotions (GRAT-SCIENCE comp). They actually did develop in-house h-antibody technology and several drugs/candidate emerge from it. However, these technology (together with REGN-Gene center) have yet to prove itself.
First failure was in protecting IP and secure free operation, while promoting and fighting competitions. Instead, they are still fighting OLD GNE antibody patents. Seams that they are the only one who has a problems with OLD technology and can not overcome problems??? Where is great science???
Schlef recently made one comment that is bit problematic (for me) for the current status at REGN. They will try something new, they are going after “breakthrough” science and candidates that will generate/dictate drugs price-power! Great for FUTURE! But, what about current candidates? Will Sanofi dictate their future, like for Praluent?
In addition, there is still at least ONE issue that is in AIR. Eylea price at $1800/ inj. It is about 3X-time overpriced for US consumers/payers. It should be @max $600/inj, if not less. Based on drug benefit and Avastin-generic competition. Lucentis bio-similar will bring further price-pressure/erosion. What IF US PAYERs pressure REGN on EYLEA price?
In April 2015, I made comment that bio-sector is at serious bubble, based on bios excessive overvaluation and wrong value assignment for majority high-flight candidates. (wish, I did toke seriously those my own comments, but did not…). REGN is definitely part of it. At +$550 it was irrationally overpriced. Is ongoing correction over or is still waiting for some possible negative events? Time will tell! But, I do think that bio-correction is healthy (not for stupid reasons listening/promoting by CNBC or other madia-experts; fear and greed in place). It is good for the regular STREET XYZ-guy that would eventually become comfortable with sector and be patients in his/her bio-bet/investment.
Will REGN reinvent itself, come out stronger..be ready for business competitions??? Have no idea. Wish they do. Their investment in bio-infrastructure (capital expenditure) suggest that they are serious about, their young and enthusiastic employee structure may be motivated for such (but they need strong leadership).
First big task is DUPILUMAB, While SOLO-1 and SOLO-2 P3 trials are completed in Jan/March-2016 (no results for SH yet, hope they are not DEVASTATING), they have SOLO-continue (36 and 52 weeks). Also, they are still expecting third P3 in AD (long term) and some other smaller P2. 56-Weeks safety P3 is MUST (IMO), BLA should not be expected before Dec-2016. I was hoping for mid-16’, and I was wrong. So, how they handle Dupilumab BLA, what will be their priority: speed to BLA or power of the data generated???? ….should tell as did they learned anything from Praluent. Are IP for Dupilumab (patents ) in conflict with GNE antibody patents, is there any additional problems…didn’t investigate... that is next.
Praluent injunction (market future?) decision will not be known for a while, so there should be plenty of time to assess REGN business status (Eylea sale for 2016., pipeline progress,… ). Hope, there would be other SI-freaks that may comment on REGN business status. |
