Deutsche Bank Comments on Regeneron Pharmaceuticals

Deutsche Bank has released a report on Regeneron Pharmaceuticals REGN highlighting strengths. In the report, Deutsche Bank wrote, "Last night Novartis announced its 2Q'11 numbers for Lucentis. Lucentis EU sales in 2Q stood at $541M vs. $444M in 1Q'11 (up 22% qoq). The excellent growth in this Q was primarily due to EU approval for Lucentis in Diabetic Macular Edema. Notably, 2Q was the first full quarter post Lucentis approval in DME in Jan-2011. Robust growth in DME during the initial phase of launch makes us confident around DME opportunity for Regeneron's Eylea." Deutsche Bank rated Regeneron Pharmaceuticals a BUY with a price target of $67.00. Regereron Pharmaceuticals closed Monday at $55.80.