智通财经网·2025-05-15 04:11Core Viewpoint - Citi has upgraded the stock rating for Regeneron Pharmaceuticals (REGN.US) while downgrading AbbVie (ABBV.US) due to the differing impacts of recent U.S. government policies on these pharmaceutical giants [1][3] Group 1: Regulatory Changes - President Trump signed an executive order to implement a "Most Favored Nation" pricing model, linking U.S. drug prices to lower prices in other developed countries [2][3] - The executive order aims to eliminate subsidies for foreign healthcare and reduce drug prices for U.S. citizens by ensuring they pay the lowest prices available globally [2] Group 2: Company Ratings and Price Targets - Citi analyst Geoff Meacham upgraded Regeneron's stock rating from "Neutral" to "Buy," citing manageable policy risk exposure and strong product pipeline in melanoma treatments [3][4] - Regeneron's target price was raised from $600 to $700 per share, reflecting a favorable risk-reward ratio after a 55% decline from its 2024 peak [4] - AbbVie's stock rating was downgraded from "Buy" to "Neutral," with a target price reduced from $205 to $188 per share, due to increased policy risk exposure and a relatively weaker product pipeline [4][5] Group 3: Market Reactions - The announcement of the executive order initially negatively impacted global pharmaceutical stocks, particularly European companies [1][2] - Regeneron's stock closed at $571.36, while AbbVie's stock closed at $177.44, indicating market adjustments following the news [4][5]