Regeneron Pharmaceuticals (REGN) Faces Securities Class Action After Losing $9 Billion Value Following Q3 2024 Earnings Report – Hagens Berman

Core Viewpoint - Regeneron Pharmaceuticals, Inc. is facing a securities fraud class action following a significant drop in its share price, which resulted in a loss of approximately $9 billion in market value due to alleged misleading statements regarding its EYLEA product [1][5]. Group 1: Legal Issues and Investigations - Hagens Berman has initiated an investigation into Regeneron for potentially misleading investors about its marketing and reimbursement practices related to EYLEA, urging affected investors to report their losses [2][6]. - The class action lawsuit focuses on Regeneron's compliance with regulations concerning Medicare reimbursement claims, particularly for EYLEA [3]. - The complaint alleges that Regeneron made false statements and failed to disclose various practices that misrepresented the pricing and sales of EYLEA, including undisclosed credit card fees that effectively lowered the selling price [4]. Group 2: Financial Impact and Company Performance - On October 31, 2024, Regeneron reported disappointing Q3 2024 financial results, with U.S. net sales for EYLEA and EYLEA HD products increasing only 3% year-over-year, attributed to lower net selling prices and pricing pressure in the anti-VEGF category [5]. - The announcement of these results led to a more than 9% decline in Regeneron's share price on the same day [5].