US accuses Regeneron of fraudulent price reporting for eye drug

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Go back to US accuses Regeneron of fraudulent price reporting for eye drug

RBC on Regeneron Pharma (REGN):'The Buying Opportunity Many Have Been Looking For, With Overdone DOJ Downside On Top Of Recent Weakness'

April 11, 2024 11:40 AM EDT

RBC Capital analyst Brian Abrahams reiterated a Sector Perform rating and $1,189.00 price target on Regeneron Pharma (NASDAQ: REGN)

The analyst comments "We note that DOJ has filed a complaint against REGN, accusing the company of fraudulently inflating Medicare reimbursement rates for Eylea. To our read, this is in regard to REGN's practice in reimbursing credit card transaction fees to distributors that occurred when physicians purchased the product using credit cards. While we do not know what the exact damages would be in case of potential settlement, given the complaint highlighting $250M in... More