Philadelphia, Pennsylvania–(Newsfile Corp. – January 23, 2025) – Berger Montague PC Notifies Investors That Securities Class Action Filed Regeneron (NASDAQ:) Pharmaceuticals, Inc. (“Regeneron” or the “Company”) (NASDAQ: REGN) on behalf of purchasers of Regeneron securities between 2 November 2023 to 30 October 2024, including (“Teaching Period”).
Deadline for investors: Investors who have purchased or acquired REGENERON securities during the Class Period may, no later than MARCH 10, 2025are seeking to be appointed as the lead representative of the plaintiff class. To learn your rights, CLICK HERE.
Regeneron, based in Tarrytown, NY, is a biotechnology company that designs products for eye diseases, inflammatory diseases, cancer, and cardiovascular and metabolic diseases.
On April 10, 2024, the US Department of Justice announced that it had filed charges against Regeneron under the False Claims Act. According to the DOJ, the company failed to report millions of dollars in rebates given to drug distributors in the form of reimbursed credit card fees.
As a result, the DOJ claims that the average selling price of Regeneron’s drug Eyle was inflated, which inappropriately increased Medicare reimbursements.
Following the news, Regeneron’s stock price fell $31.50, more than 3%, over the next two trading days to close at $904.70 per share on April 12, 2024.
Then, on October 31, 2024, Regeneron announced that in the third quarter of 2024, the company’s sales were up just 3% year-over-year, with quarterly Eylee sales of just $392 million, missing consensus estimates of $415 million to $425 million. The company also disclosed that Eylee sales were “unfavorably impacted by a lower net selling price compared to the third quarter of 2023.”
Following the news, Regeneron’s stock price fell $84.59, or 9%, to $838.20 per share on October 31, 2024.
To find out your rights or for more information, CLICK HERE or contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net.
The lead plaintiff is the representative party that acts on behalf of all class members in the conduct of the litigation. The lead plaintiff is usually an investor or a small group of investors who have the greatest financial interest and who are also appropriate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and those attorneys, if approved by the court, are lead or class counsel. However, deciding whether to be the lead plaintiff does not affect your ability to participate in the recovery. Communication with any attorney is not necessary to participate or participate in any recovery obtained in this case. Each putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, DC, San Diego, San Francisco and Chicago, has been a pioneer in securities class actions since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five decades and serves as general counsel in courts throughout the United States.
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