REGN INVESTOR DEADLINE: Regeneron Pharmaceuticals, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

SAN DIEGO, Jan. 21, 2025 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) securities between November 2, 2023 and October 30, 2024, inclusive (the "Class Period"), have until March 10, 2025 to seek appointment as lead plaintiff of the Regeneron class action lawsuit. Captioned Radtke v. Regeneron Pharmaceuticals, Inc., No. 25-cv-00145 (S.D.N.Y.), the Regeneron class action lawsuit charges Regeneron as well as certain of Regeneron's top current and former executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Regeneron class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-regeneron-pharmaceuticals-inc-class-action-lawsuit-regn.html 

You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Regeneron is a biotechnology company that designs products for eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, among others.  According to the Regeneron class action lawsuit, one of Regeneron's primary products is Eylea, an injection to treat age-related macular degeneration, among other conditions.

The Regeneron class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Regeneron paid credit card fees to distributors on the condition that distributors did not charge Eylea customers more to use a credit card; (ii) these payments subsidized the prices that customers paid when using credit cards to purchase Eylea; (iii) as a result, Regeneron offered a price concession that lowered Eylea's selling price; (iv) because retina practices were sensitive to higher prices when using credit cards to purchase anti-vascular endothelial growth factor ("anti-VEGF") medications, Regeneron's price concessions provided a competitive advantage; (v) consequently, Regeneron misleadingly boosted reported Eylea sales; (vi) by failing to report its payment of credit card fees as price concessions, Regeneron overstated the Average Sales Price ("ASP") reported to federal agencies, thereby violating the False Claims Act; and (vii) as a result of the foregoing, defendants' positive statements about Regeneron's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

The Regeneron class action lawsuit further alleges that on April 10, 2024, the U.S. Department of Justice ("DOJ") announced it had filed a complaint against Regeneron under the False Claims Act for failing 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 Eylea's ASP was inflated, which inappropriately increased Medicare reimbursement, and by reimbursing credit card fees, Regeneron subsidized the treatment costs, thereby gaining a competitive advantage over other anti-VEGF treatment, the Regeneron class action lawsuit alleges.  On this news, the price of Regeneron stock fell, according to the complaint.

Then, on October 31, 2024, the Regeneron class action lawsuit further alleges that Regeneron announced its third quarter 2024 financial results, revealing lagging U.S. net sales for Eylea and Eylea HD.  Specifically, as the Regeneron class action lawsuit alleges, Regeneron reported sales had only increased 3% versus the third quarter 2023, quarterly sales of Eylea HD were only $392 million, missing consensus estimates of $415 million to $425 million, and "[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."  On this news, the price of Regeneron stock fell more than 9%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Regeneron securities during the Class Period to seek appointment as lead plaintiff in the Regeneron class action lawsuit.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Regeneron class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Regeneron class action lawsuit.  An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Regeneron class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud cases.  Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors.  We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years.  With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.  Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. 

Services may be performed by attorneys in any of our offices. 

Contact:

Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
[email protected] 

SOURCE Robbins Geller Rudman & Dowd LLP