Regeneron's Dupixent COPD Sales To Reach $20B By 2026, Analyst Sees Larger Addressable Market
Regeneron's Dupixent COPD Sales To Reach $20B By 2026, Analyst Sees Larger Addressable Market
RBC Capital Markets analyst Brian Abrahams reiterated an Outperform rating on Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), raising the price forecast to $1,299 from $1,200.
RBC資本市場分析師布萊恩·亞伯拉罕重申了對再生元製藥公司（納斯達克：REGN）的跑贏大盤評級，將價格預測由1200美元上調至1299美元。
Abrahams surveyed 31 pulmonologist physicians who see high volumes of COPD patients.
亞伯拉罕對31名診治慢性阻塞性肺病（COPD）患者數量較多的肺部疾病醫生進行了調查。
The analyst writes that the surveyed pulmonologists were excited about the ph.III data, the proportion of patients they view as having type 2 inflammation, and the expected rapidity of adoption post-approval all suggest dupixent's COPD sales potential and contribution to near and long-term revenue are likely to be higher than even our bullish expectations.
分析師寫道，調查的肺病醫生對III期臨床試驗數據感到興奮，他們認爲患有2型炎症的患者比例以及望後批准後自然採用速度的良好表現，都表明杜邦西汀在COPD銷售潛力及其對近期和長期營業收入的貢獻可能比我們更看好。
The actual use of dupi in 20% of the 3.5 million moderate to severe COPD patients likely to be engaged with a clinician would translate to $20 billion in U.S. sales just in COPD in 2026—far above our prior $1.4 billion estimate.
在已與臨床醫生接觸的350萬中度至重度COPD患者中，20%實際使用杜邦西汀，可使其2026年僅在COPD領域的銷售額達到200億美元，遠超我們之前的14億美元估計。
Based on this, the analyst further raised the initial addressable market and medium-term penetration estimates, and now see $4 billion+/$6.5 billion U.S./WW peak dupi COPD sales.
基於此，分析師進一步提高了初步地址市場和中期滲透率的預估，現在預計杜邦西汀COPD的銷售額將達到40億美元以上/65億美元的美國總銷售額/全球銷售額的峯值。
Per Abrahams, this is likely because of a higher-than-expected number of patients with an eosinophilic phenotype who could potentially qualify for dupi and relatively relaxed expected criteria for eosinophil counts.
亞伯拉罕認爲，這很可能是因爲患有嗜酸性細胞表型的患者數量比預期的要高，而且嗜酸性細胞計數的標準相對較寬鬆。
The analyst adds that, Tezspire is likely to be a well-received competitor, potentially taking share long term, though it will ultimately help grow the COPD biologics market.
分析師補充說，特茲匹拉可能會成爲一個受歡迎的競爭對手，從長期來看可能會佔據市場份額，但最終它將幫助拓展COPD生物製品市場。
Abrahams slightly raises 2024 diluted earnings per share estimate to $40.65 from $40.64.
亞伯拉罕將2024年每股稀釋收益預估略微上調至40.65美元，而之前預估是40.64美元。
Price Action: REGN shares closed higher by 1.7% to $1,027.67 on Wednesday.
價格行動：週三REGN股票收於1027.67美元，上漲1.7%。
譯文內容由第三人軟體翻譯。