Regeneron (REGN) Collaborates With Ultragenyx for Evkeeza
Zacks Investment Research | Jan 09, 2022 10:28PM ET
Regeneron (NASDAQ:REGN) Pharmaceuticals, Inc. industry ’s decline of 31%.
Regeneron’s performance has been outstanding in 2021. Strong demand for Eylea and Dupixent maintained momentum for the company. Incremental contribution from REGEN-COV has boosted the top line significantly.
REGEN-COV (casirivimab and imdevimab) is a cocktail of two monoclonal antibodies currently authorized for emergency use in the United States for the treatment and post-exposure prophylaxis in certain high-risk individuals. Earlier, the company announced that its currently authorized REGEN-COV antibodies have diminished potency versus Omicron. With Omicron gaining steam rapidly, the diminished potency against the same does not bode well for Regeneron and might result in loss of revenues.
Continued growth in Eylea and Dupixent through further penetration in existing indications and a promising late-stage pipeline set the momentum for growth. The approval of Libtayo in the lucrative indication of lung cancer should further boost the drug’s sales in the upcoming quarters.
Regeneron currently has a Zacks Rank #1 (Strong Buy). Other attractive stocks in the healthcare sector include Vir Biotechnology (NASDAQ:VIR) the complete list of today’s Zacks #1 Rank stocks here .
Earnings estimates for Vir have moved up $4.76 in the past 30 days for 2022. VIR is up 19% in the past year.
Earnings estimates for Alkermes have moved up a cent for 2022 in the past 30 days. ALKS is up 25.1% in the past year.
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