Regeneron could still get an on-time OK for an eczema drug, despite a recent legal loss to Amgen. (Regeneron)<\/p>\n
Though Regeneron (REGN) and Sanofi's (SNY) LDL-buster lost in a patent battle with Amgen (AMGN), the duo could appease investors with an on-time approval of extreme eczema drug dupilumab, says RBC analyst Adnan Butt. <\/p>\n
Butt expects dupilumab to beat expectations and turn momentum positive. The latter is particularly important after a U.S. District Court judge on Jan. 6 sided with Amgen in a patent battle pitting Amgen's Repatha against Praluent. In her decision, the judge banned Regeneron and Sanofi's Praluent. <\/p>\n
Regeneron stock toppled 6% that day, and Sanofi shares dipped 3%. Since then, Regeneron shares have fallen an additional 3%. Praluent is slated to be pulled from shelves Feb. 21 if a federal circuit judge doesn't grant a stay on the injunction pending the appeal. <\/p>\n
Analysts have already largely removed Praluent from their expectations for Regeneron, Butt wrote in a research report Monday. Fortunately for Regeneron and Sanofi, an on-time approval for dupilumab to treat extreme atopic dermatitis looks likely, he says. <\/p>\n
\"The FDA deemed the Sanofi facility 'acceptable' and Regeneron has a backup third-party facility it can use if it needs to,\" he wrote in a research report. \"We forecast sales of $123 million while consensus for 2017 is $177 million to 196 million.\" <\/p>\n
IBD'S TAKE: Analysts are largely cautious on biotechs entering Q4 earnings season. But Incyte is grabbing bullish views on its slew of potential blockbuster drugs. Get more on The New America. <\/p>\n
Butt kept his outperform rating and 598 price target on Regeneron stock. In the stock market today, though, Regeneron stock slipped 0.58% to 344.50, and Sanofi edged upa fraction to 40. <\/p>\n
Regeneron's pipeline \"has delivered more than disappointed,\" Butt said. <\/p>\n
Besides dupilumab,he's bullish on Eylea, an injection for wet macular degeneration, diabetic macular edema and macular edema following retinal vein occlusion. There, Regeneron faces competition from Novartis (NVS). <\/p>\n
On its Q4 earnings conference call with analysts last week, Novartis noted Phase 3 data for its wet AMD drug, RTH258, is due in Q2.Novartis is seemingly aiming at fewer objections, Adnan wrote. But \"Eylea sets a high bar,\" he added. <\/p>\n
\"What would be worth watching is if RTH258 dries patients who remain nonresponsive to Eylea, similar to how Eylea gained share over Lucentis and Avastin,\" he wrote. <\/p>\n
This month, Regeneron preannounced $858 million in Q4 Eylea sales. Sequentially, growth has slowed over the past two quarters, but the consensus still sees year-over-year growth of 12% in 2017. A guide of 10% in 2017 could be well-received, Butt wrote. <\/p>\n
RELATED: <\/p>\n
Regeneron, Sanofi Claim Amgen's LDL-Buster Patent Too Broad <\/p>\n
Odds Are Against Regeneron, Sanofi In Amgen Patent Battle: Leerink <\/p>\n
Regeneron, Sanofi Hammered After Judge Bans Amgen-Rivaling LDL-Buster <\/p>\n
The Medicines Company outperformed Amgen stock early Friday, rocketing after No. 1 biotech Amgen said LDL-buster Repatha curbs cardiac events. (Kris Tripplaar\/Sipa USA\/Newscom)<\/p>\n
2\/03\/2017 The Medicines Company outperformed Amgen stock early Friday, rocketing after Amgen said Repatha curbs cardiac events.<\/p>\n
2\/03\/2017 The Medicines Company outperformed Amgen stock early Friday, rocketing after...<\/p>\n
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Excerpt from: Regeneron could still get an on-time OK for an eczema drug, despite a recent legal loss to Amgen. (Regeneron) Though Regeneron (REGN) and Sanofi's (SNY) LDL-buster lost in a patent battle with Amgen (AMGN), the duo could appease investors with an on-time approval of extreme eczema drug dupilumab, says RBC analyst Adnan Butt Continue reading
\nRegeneron, Sanofi Could Appease LDL-Frustrated Buyers On Eczema Drug - Investor's Business Daily<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"