This Recent FDA Approval Could Give Regeneron's Top Line a Big Boost
Regeneron Pharmaceuticals (NASDAQ: REGN) has made for a fantastic growth story over the years. From just over $2 billion in revenue in 2013, the company's top line rose to more than $12 billion last year. And that's even after a drop due to declining revenue from its COVID-19 treatment.
There have been concerns, however, that its growth rate could continue to slow down, especially as competition wrestles away market share from its top-selling eye medication, Eylea. But there's reason for investors to be more optimistic about the company's growth prospects moving forward.
In August, the Food and Drug Administration (FDA) granted approval for Eylea at a higher dosage. It was already approved at a 2 mg dose, but Regeneron recently filed a new drug application for an 8 mg injection. This is a quick turnaround as the FDA rejected the higher-dose version in June due to issues related to a third-party filler. Regeneron moved quickly to address the issues, however, resulting in the approval of what will now be known as Eylea HD.
Source Fool.com
Regeneron Pharmaceuticals Inc. Stock
The stock is one of the favorites of our community with 45 Buy predictions and 1 Sell predictions.
With a target price of 1034 € there is a slightly positive potential of 3.94% for Regeneron Pharmaceuticals Inc. compared to the current price of 994.8 €.
