Regeneron plans $1B stock buyback; Merck partner touts PhIIb results for Keytruda combo in pancreatic cancer
→ With a solid third quarter, driven by sales of Dupixent, and flush with more than $6 billion in cash — Regeneron $REGN on Tuesday said it was buying back $1 billion in stock. “New $1B stock buyback plan is encouraging and bispecific pipelines are progressing. Libtayo 1L NSCLC 2nd interim look in FY20 could be catalyst but looks undifferentiated. Q3 slightly better vs expected and mgt doing right things but we remain concerned about Beovu’s competition as FY20 ests need to come down,” Cowen’s Yaron Werber wrote in a note.
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