4 Reasons to Add Regeneron (REGN) Stock to Your Portfolio
Zacks Investment Research | Oct 10, 2021 10:27PM ET
Biotechnology company, Regeneron (NASDAQ:REGN) Pharmaceuticals industry ’s decline of 12.2%.
Lead Drug Eylea Drives Growth: Demand for lead ophthalmology drug, Eylea, (approved for neovascular age-related macular degeneration, diabetic macular edema, and macular edema, among others) revived after a slowdown last year. Regeneron has a collaboration agreement with Bayer (OTC:BAYRY) SNY for some of its other drugs like Dupixent. Strong performance of Dupixent has driven growth for Regeneron in the last few quarters. The drug is approved for moderate-to-severe atopic dermatitis (AD) and asthma, among others. Continued label expansion of the drug has boosted sales further, making it an important sales contributor for Regeneron. The FDA also approved the drug as an add-on maintenance therapy in patients aged 12 years or older with moderate-to-severe asthma with an eosinophilic phenotype or oral corticosteroid-dependent asthma and an add-on maintenance treatment for adults with inadequately-controlled severe chronic rhinosinusitis with nasal polyps (CRSwNP). Regeneron records its share of profits/losses in connection with global sales of Dupixent and Kevzara.
New Drug Approvals Diversify Revenue Base: We are impressed by Regeneron’s efforts to bring additional products to the market. The FDA approval of Libtayo for the treatment of patients with metastatic or locally advanced cutaneous squamous cell carcinoma (CSCC) who are not candidates for curative surgery or curative radiation has diversified the portfolio. The drug’s label recently expanded to include non-small cell lung cancer (NSCLC) and basal cell carcinoma (BCC). It is under review for the indication of cervical cancer in the United States. Approval in additional indications will boost sales further as the oncology market holds great potential.
The FDA approvals of Inmazeb (REGN-EB3) for the treatment of infection caused by Zaire ebolavirus in adult and pediatric patients, including newborns of mothers who have tested positive for the infection and Evkeeza for the treatment of adults and adolescents with HoFH add an incremental stream of revenues for the company. Moreover, these drugs diversify the company’s revenue base.
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In brief, Regeneron has a solid and diverse portfolio, which is expected to maintain the company’s momentum further despite stiff competition for its key drugs. The promising pipeline also sets the stage for growth further.
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