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Fly News Breaks for February 19, 2019
REGN
Feb 19, 2019 | 05:13 EDT
While Dupixent's new asthma label has garnered much attention, new dermatologist survey data suggest the atopic dermatitis indication "remains very much in growth mode," Piper Jaffray analyst Christopher Raymond tells investors in a research note. From November to January, overall Dupixent patient load/doc has gapped up ~20%, after a bit of a lull last quarter, Raymond says, citing a survey from Piper's partner Spherix Global Insights. The analyst believes near-term trends, expected use and managed care access for Dupixent are all improving and he expects consensus estimates over time to migrate to levels approaching his estimates. He models worldwide Dupixent revenue $200M higher than consensus in fiscal 2019 and almost $600M higher in fiscal 2020. Raymond keeps an Overweight rating on Regeneron Pharmaceuticals with a $475 price target.
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