S&P gives Regeneron BBB+

S&P said it assigned a BBB+ issuer rating to Regeneron Pharmaceuticals Inc., saying the company plans to tap the bond market to refinance its $1.5 billion bridge loan.

“Regeneron is highly profitable and innovative. Regeneron benefits from high barriers to entry, good pricing power, and strong profitability, similar to other rated biotech peers,” S&P said in a press release.

The outlook is stable. “The stable outlook reflects our expectation that Regeneron will maintain adjusted leverage below 1.5x on a sustained basis while managing potential headwinds as competition intensifies in the coming years,” S&P said.

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