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Biotech / Medical : Regeneron Pharmaceuticals
REGN 702.90-3.1%3:58 PM EST
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From: The Ox2/1/2018 3:50:17 PM
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Regeneron continues slide, down 6%
Feb. 1, 2018 3:48 PM ET|About: Regeneron Pharmaceutic... (REGN)|By: Douglas W. House, SA News Editor

Regeneron Pharmaceuticals ( REGN -5.5%) continues south. Shares have lost over 11% in a week. The company is scheduled to report Q4 earnings on February 8 before the open.

Barclay's Geoff Meacham is bearish on the company's prospects (Underweight/$395) citing the saturation of the wet-AMD market which bodes ill for top seller EYLEA (aflibercept).

Competitor Lucentis (ranibizumab) generated CHF288M in sales in Q4. Regeneron has pre-announced EYLEA Q4 sales at $985M.

Last quarter, the company forecasted ~10% higher U.S. sales for EYLEA this year or ~$3.66B (2016 sales: $3,323.1M). In his JPM18 presentation, CEO Leonard Schlieifer stated that 2017 sales would be ~$3.7B ( slide #10).

Source: Bloomberg

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