Should You Buy This Biotech Stock That Just Gained 5% in 1 Day?

Shares of Regeneron Pharmaceuticals (NASDAQ: REGN), a biotech giant, have been southbound over the past two years as the company navigates challenges to one of its main growth drivers, Eylea. This medicine for wet age-related macular degeneration (AMD) has faced competition, including biosimilars, which have eroded its sales.However, Regeneron has made moves to protect its market share. The company recently notched another win in that department, which significantly jolted its share price. In light of these recent developments, should investors buy the stock?Eylea faced competition from Roche Holding's Vabysmo, a medicine approved in early 2022 that offered a more convenient (that is, less frequent) dosing schedule. Then Regeneron had to contend with Amgen, which was allowed by a judge to launch Pavblu, a biosimilar version of the medicine. However, the biotech giant was able to strike back. In August 2023, Regeneron received approval for a higher-dose (HD) version of Eylea. HD Eylea doesn't have to contend with a cheaper biosimilar, and it can also offer less frequent dosing for patients with wet AMD.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool