Why did REGN miss Q1 2024 revenue targets?

Regeneron Pharmaceuticals missed its Q1 2024 revenue targets due to a combination of factors: 1. **Impact of Inventory Issues**: There were inventory issues that affected the company's ability to fulfill demand for its products, resulting in lower revenue than expected. 2. **Generic Competition**: The company's best-selling biopharmaceuticals faced generic competition, which likely impacted sales and revenue. 3. **Market Dynamics**: The overall market dynamics, including changes in pricing and competition, likely played a role in the revenue shortfall. For example, there was a decline in the size of the branded anti-VEGF category, which included Eylea, due to more patients using off-label bevacizumab (Avastin) for retinal conditions. In summary, Regeneron's Q1 2024 revenue miss was likely a result of a combination of inventory issues, generic competition, and market dynamics. |code|Ticker|Name|Date|Net Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code| |---|---|---|---|---|---|---|---| |REGN|REGN.O|Regeneron|2023 Q1|-15.993836671802775|6.643958045259857|-16.724738675958186|185| |REGN|REGN.O|Regeneron|2023 Q2|13.648632789578688|10.531289374212516|13.78848728246319|185| |REGN|REGN.O|Regeneron|2023 Q3|-23.401991335410806|14.525577276752266|-23.75643224699828|185| |REGN|REGN.O|Regeneron|2023 Q4|-3.132570378414502|0.582825679475164||185| |code|Ticker|Name|Date|Net Income YoY|Net Income|market_code| |---|---|---|---|---|---|---| |REGN|REGN.O|Regeneron|2023 Q1|-15.993836671802775|8.178E8|185| |REGN|REGN.O|Regeneron|2023 Q2|13.648632789578688|9.684E8|185| |REGN|REGN.O|Regeneron|2023 Q3|-23.401991335410806|1.0078E9|185| |REGN|REGN.O|Regeneron|2023 Q4|-3.132570378414502|1.1596E9|185| |code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code| |---|---|---|---|---|---|---| |REGN|REGN.O|Regeneron|2023 Q1|6.643958045259857|3.1621E9|185| |REGN|REGN.O|Regeneron|2023 Q2|10.531289374212516|3.1581E9|185| |REGN|REGN.O|Regeneron|2023 Q3|14.525577276752266|3.3627E9|185| |REGN|REGN.O|Regeneron|2023 Q4|0.582825679475164|3.4343E9|185| |code|Ticker|Name|Date|Diluted EPS YoY|Diluted EPS|market_code| |---|---|---|---|---|---|---| |REGN|REGN.O|Regeneron|2023 Q1|-16.724738675958186|7.17|185| |REGN|REGN.O|Regeneron|2023 Q2|13.78848728246319|8.5|185| |REGN|REGN.O|Regeneron|2023 Q3|-23.75643224699828|8.89|185| |REGN|REGN.O|Regeneron|2023 Q4||10.19|185|