Yahoo Finance Today's Research Reports on Stocks to Watch: Amgen and Regeneron
NEW YORK, NY / ACCESSWIRE / October 6, 2017 / Shares of Amgen had a modest close in the red while Regeneron shares had a modest close in the green. A U.S. appeals court reversed a ban on a cholesterol-lowering drug from Regeneron and Sanofi that Amgen's Repatha drug rivals. A new trial is expected.
RDI Initiates Coverage on:
Amgen Inc.
http://www.rdinvesting.com/report/?ticker=AMGN
Regeneron Pharmaceuticals, Inc.
http://www.rdinvesting.com/report/?ticker=REGN
Amgen Inc. shares closed down a modest 0.92% on Thursday. It was a disappointing day for the company after a judge tossed a ban on rivals Regeneron's and Sanofi's cholesterol-lowering drug Praluent. Praluent is a rival drug of Amgen's Repatha. It was in January that a judge banned the sale of Praluent in a patent battle. A new trial has been ordered as the federal court found that the jury was not given proper instructions. RBC analyst Kennen MacKay wrote that Regeneron should have been able to present evidence relating to its antibody in the original trial. He wrote, "Specifically, the appeals court sided with Regeneron that critical evidence relating to its antibody's binding characteristics vs. those covered in Amgen's patents were improperly excluded and that the jury was improperly instructed on the written definition."
Access RDI's Amgen Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=AMGN
Regeneron Pharmaceuticals, Inc. shares closed up 1.61% yesterday on a little over 1.4 million shares traded. It was an exciting day for the stock after a U.S. appeals court reversed a ban on the sale of Regeneron and Sanofi SA's drug Praluent which lowers cholesterol. Amgen filed a lawsuit in 2014 claiming that Praluent infringed patents on its drug Repatha. It won the sales ban than after a jury trial. Both Praluent and Repatha lower LDL cholesterol in the blood by blocking a protein called PCSK9. The Federal Circuit said that jurors were given instructions that could have wrongly led them to believe that describing a protein like PCSK9 was enough to patent a broad class of possible antibodies. A new trial will allow Regeneron and Sanofi to present their complete evidence to a jury as in the last case the judge excluded some evidence the companies wanted to use. Amgen released a statement after the reversal of the ban and said, "We firmly believe in the validity of our patents and we look forward to reasserting our rights in court." According to analyst Salim Sayed of Mizuho Securities, Praluent may be on the market at least another year.
Access RDI's Regeneron Pharmaceuticals, Inc. Research Report at:
http://www.rdinvesting.com/report/?ticker=REGN
Our Actionable Research on Amgen Inc. (NASDAQ: AMGN) and Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) can be downloaded free of charge at Research Driven Investing.
Research Driven Investing
We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.
RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.
Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker-dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.
CONTACT
For any questions, inquiries, or comments reach out to us directly at:
Address:
Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011
Email:
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: RDInvesting.com
