This Double Whammy Caused Regeneron Pharmaceuticals Inc. to Fall 10% in November
Shares of Regeneron Pharmaceuticals (NASDAQ: REGN), a large-cap biopharmaceutical company that develops treatments for eye disorders and other serious medical conditions, tumbled 10% during the month of November, according to data from S&P Global Market Intelligence. It appears that two factors were responsible for Regeneron's poor showing last month.
The biggest issue for Regeneron came toward the end of the month when it and development partner Bayer (NASDAQOTH: BAYRY) announced that combination treatments involving Eylea, Regeneron's lead drug that accounts for nearly 80% of total sales (including collaborative revenue), failed in two clinical studies. When combined with Bayer's angiopoietin2, the combination regimen failed to beat out Eylea as a monotherapy in midstage studies for diabetic macular edema and wet age-related macular degeneration. For some folks, the failure of this combination therapy wasn't a huge shock, with management talking down the combination following Regeneron's third-quarter earnings release. Nevertheless, it removes a pathway to higher sales growth for Eylea.
Image source: Getty Images.
Source: Fool.com
Regeneron Pharmaceuticals Inc. Aktie
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