SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Regeneron Pharmaceuticals, Inc. of Class Action Lawsuit and Upcoming Deadlines - REGN

NEW YORK, Jan. 21, 2025 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Regeneron Pharmaceuticals, Inc. ("Regeneron" or the "Company") (NASDAQ: REGN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Regeneron and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until March 10, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Regeneron securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On April 10, 2024, the U.S. Department of Justice ("DOJ") announced the filing of a complaint against Regeneron under the False Claims Act. According to the DOJ, the Company failed to report millions of dollars in discounts provided to drug distributors in the form of reimbursed credit card fees. As a result, the DOJ alleges that the Average Sales Price ("ASP") for Regeneron's Eylea and Eylea HD products was inflated, which inappropriately increased Medicare reimbursements. By reimbursing credit card fees, Regeneron subsidized the treatment costs, thereby gaining a competitive advantage over other anti-vascular endothelial growth factor ("VEGF") treatments. 

On this news Regeneron's stock price fell $31.50 per share, or 3.36%, over two trading sessions, to close at $904.70 per share on April 12, 2024. 

Then, on October 31, 2024, Regeneron reported its third quarter 2024 financial results, revealing lagging U.S. net sales for Eylea HD and Eylea. The Company reported that sales had only increased 3% versus the third quarter 2023, and quarterly sales of Eylea HD were only $392 million, missing consensus estimates of $415 million to $425 million. Regeneron also revealed that "[n]et product sales of EYLEA in the third quarter of 2024 were adversely impacted by a lower net selling price compared to the third quarter of 2023." In the wake of this news, Reuters reported the Company had "reported weaker-than-expected quarterly sales of the higher dose version of its blockbuster eye disease drug Eylea." 

On this news, Regeneron's stock price fell $84.59 per share, or 9.2%, to close at $838.20 per share on October 31, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980

SOURCE Pomerantz LLP