According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Regeneron paid credit card fees to distributors on the condition that distributors did not charge Eylea customers, one of Regeneron’s primary products, more to use a credit card;
- these payments subsidized the prices that customers paid when using credit cards to purchase Eylea;
- as a result, Regeneron offered a price concession that lowered Eylea’s selling price;
- because retina practices were sensitive to higher prices when using credit cards to purchase anti-vascular endothelial growth factor (“anti-VEGF”) medications, Regeneron’s price concessions provided a competitive advantage;
- as a result of the foregoing, Regeneron misleadingly boosted reported Eylea sales;
- by failing to report its payment of credit card fees as price concessions, Regeneron overstated the Average Sales Price (“ASP”) reported to federal agencies, thereby violating the False Claims Act; and
- as a result of the foregoing, defendants’ positive statements about Regeneron’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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