REGN HD Eylea push read-across to DHR

研报英文原文证据摘录

REGN HD Eylea push read-across to DHR

Update

July 30, 2026 01:42 PM GMT

Morgan Stanley & Co. LLCMDanaher Corporation | North America Kallum L Titchmarsh

Equity Analyst

REGN HD Eylea push read- Kallum.Titchmarsh@morganstanley.comJakob Dodd +1 212 761-2351

Research Associate

Jakob.Dodd@morganstanley.com +1 212 761-0797

across to DHR Jason Lai

Jason.Lai@morganstanley.com +1 212 761-4848

HD Eylea associated with DHR's bioprocess miss? We've continued to assess prints

across the pharma space to identify any headlines that could offer incremental Danaher Corporation (DHR.N, DHR US)

insight into DHR's Q2 bioprocess miss, driven by a pushout in chromatography resin Life Science Tools & Diagnostics | United States of

America

orders. We've since published a note covering our subsequent discussions with KOLs

Stock Rating Overweight

in the bioprocess space to work through what might have occurred (see the full Industry View In-Line

note here). Upon printing Q2 results this morning, REGN (covered by Terence Flynn) Price target $220.00

Shr price, close (Jul 29, 2026) $196.49

pushed out expectations for HD Eylea FDA approval, which was originally expected Mkt cap, curr (mm) ND

by the end of Q2-2026 (the updated timeline is now by the end of 2026). Public 52-Week Range $242.80-160.93

patent documents show that REGN tested a Cytiva chromatography resin, Q

Sepharose Fast Flow, during development of a purification process for aflibercept,

the active ingredient in Eylea and Eylea HD. However, the patent does not confirm

that this resin is used in the final commercial manufacturing process for Eylea HD

(though we'd say more likely than not). The evidence therefore shows possible use

during process development and a potential answer to one of the customers at

hand for the miss.