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Morgan Stanley on Tuesday issued a report on Regeneron Pharmaceuticals Inc.
REGN after the company reported guidance that was below estimates. Regeneron is currently rated as Overweight with a price target of $499.00.
Analysts Matthew Harrison, Matthew Pommer, and Amy Le wrote, " the expanded pipeline (2 blockbuster/potential blockbuster approved assets by 2015 year end and 4-5 Phase III programs) is impressive and points to the potential for sustained long-term growth."
The analysts gives 2 key updates on the pharmaceutical company.
1. All of Medicare and 98% of commercial lives have coverage for Eylea, making Regeneron's drug high in demand.
2. The market share of FDA-approved products in wAMD in the U.S. is now ~56% and Eylea has a larger share of the market than Lucentis. This gives Regeneron a substantial competitive advantage in the market.
Regeneron Pharmaceuticals Inc. closed Monday at $400.71.
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Posted In: Analyst ColorNewsGuidancePrice TargetAnalyst RatingsAmy LeMatthew HarrisonMatthew PommerMorgan Stanley
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