Amgen (AMGN -0.3%) and Regeneron (REGN +0.2%) are initiated with Market Perform ratings at Raymond James.
Ray Jay analyst Dane Leone sees new potential growth areas for AMGN, such as AMG 510, a first-in-class investigational KRAS G12C inhibitor, offsetting expected pressure on legacy branded drugs such as Enbrel.
At REGN, Leone sees new potential growth areas such as Dupixent being offset by expected pressure on legacy drugs such as Eylea and the “increasing competitive intensity” of the anti-VEGF treatment landscape.
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