An appeals court has upheld a District Court’s denial of a preliminary injunction for Amgen’s (AMGN) Eylea biosimilar, which UBS analyst Trung Huynh tells investors in “negative, but somewhat expected” for Regeneron (REGN). While extended timelines for an additional appeal is likely, uncertainty could continue and expectations of a reversal will be “limited,” the firm says. UBS has a Neutral rating and $768 price target on Regeneron shares.
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