BUZZ-Leerink Partners lowers PT on drugmaker Regeneron

Reuters01-28
BUZZ-Leerink Partners lowers PT on drugmaker Regeneron

** Leerink Partners lowers PT on drugmaker Regeneron Pharmaceuticals REGN.O to $762 from $880; maintains rating of "market perform"

** Brokerage says it lowered 2025 EPS estimates to $40.96 from $44.01 due to REGN's eye drug Eylea franchise pressures and investment spending requirements; analysts on average estimate 2025 EPS to be $44.76, according to data compiled by LSEG

** Leerink notes REGN may face potential pricing pressure on Eylea HD in international markets outside of U.S.

** Last year, REGN reported Q3 sales of $392 mln for higher dose version of Eylea, missing expectations of $417 mln

** Brokerage says it expects REGN to defend its Eylea 2mg market share against Amgen's AMGN.O biosimilar, Pavblu

** Expects U.S. Eylea sales to be constrained due to lack of pre-filled syringe, monthly dosing and RVO indication

** REGN fell 21.3% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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