Overview

A class action lawsuit has been filed against Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”) (NASDAQ: REGN) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws.  The Regeneron class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Regeneron securities between November 2, 2023, and October 30, 2024, both dates inclusive (the “Class Period”).  Investors have until March 10, 2025 to seek appointment as lead plaintiff in the Regeneron class action lawsuit.

Regeneron is a biotechnology company that designs products for eye diseases, allergic and inflammatory diseases, cancer, and cardiovascular and metabolic diseases, among others.  One of the Company’s primary products is Eylea, an injection to treat age-related macular degeneration, among other conditions, by inhibiting anti-vascular endothelial growth factor (“anti-VEGF”).  In November 2011, the U.S. Food and Drug Administration (“FDA”) approved Eylea as an anti-VEGF inhibitor for wet age-related macular degeneration, and in August 2023, the FDA approved Eylea HD, a high dose version of Eylea.  The Company is substantially dependent on the success of Eylea and Eylea HD.  Sales of the Company’s products, including Eylea and Eylea HD, are, in turn, largely dependent on the availability and extent of reimbursement from third-party payors, including programs such as Medicare and Medicaid.

The reimbursement rate for each claim submitted for Eylea and Eylea HD is based on the Average Sales Price (“ASP”) reported by Regeneron to the Centers for Medicare and Medicaid Services.  In reporting ASP, companies like Regeneron are required to include all price concessions, such as volume discounts, chargebacks, and rebates, as part of their calculation, meaning companies must report the net price received after accounting for these concessions.

The Regeneron class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants failed to disclose to investors: (1) that Regeneron paid credit card fees to distributors on the condition that distributors did not charge Eylea customers more to use a credit card; (2) that these payments subsidized the prices that customers paid when using credit cards to purchase Eylea; (3) that, as a result, Regeneron offered a price concession that lowered Eylea’s selling price; (4) that, because retina practices were sensitive to higher prices when using credit cards to purchase anti-VEGF medications, Regeneron’s price concessions provided a competitive advantage; (5) that, as a result of the foregoing, Regeneron misleadingly boosted reported Eylea sales; (6) that, by failing to report its payment of credit card fees as price concessions, Regeneron overstated the ASP reported to federal agencies, thereby violating the False Claims Act; and (7) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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If you purchased or otherwise acquired Regeneron securities between November 2, 2023, and October 30, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Regeneron class action lawsuit is March 10, 2025.