Novo Nordisk’s (NVO) update that the FDA classified Catalent’s facility as “Official Action Indicated” raises the risk of further delay for Regeneron’s (RGEN) EYLEA HD prefilled syringe, which is produced at the same site, Canaccord tells investors in a research note. Despite ongoing EYLEA franchise headwinds, the firm maintains a Buy rating and $850 price target on Regeneron, as upcoming data on Novo’s semaglutide in Alzheimer’s disease could spotlight Regeneron’s related muscle-sparing programs. A positive readout could also prompt Regeneron to explore combining trevogrumab and/or garetosmab with a GLP-1 therapy for Alzheimer’s, the firm adds.
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