Regeneron Pharmaceuticals Inc

REGN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$228.00	Cmvml	Tpxgsvfl

Regeneron's Eylea Should Remain a Stable Foundation for Its Narrow Moat

Karen Andersen

Sep 13, 2022

Business Strategy and Outlook

Regeneron has leveraged its monoclonal antibody research and development platform to become one of the few biotechs to successfully emerge as a profitable commercial operation and establish a narrow moat. Lead drug Eylea has global sales around $9 billion annually and is approved for wet age-related macular degeneration and other eye-related indications. The drug remains well positioned, as its high-dose formulation should allow it to continue to hold strong market share against biosimilars and Roche's new branded drug, Vabysmo.

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