(Reuters) – U.S. drugmaker Regeneron Pharmaceuticals beat Wall Street estimates for third-quarter profit and revenue on Thursday, driven by strong demand for its eczema treatment Dupixent and blockbuster eye disease drug Eylea. Regeneron has been looking to upgrade patients who use Eylea to a high-dose version, as the drug that has long been its cash cow faces the threat of biosimilar products and stiff competition from rivals, including Roche’s Vabysmo. Swiss drugmaker Roche reaffirmed its full-year profit forecast while beating quarterly estimates for sales last week, banking on strong demand for Vabysmo. Total U.S. net sales of Eylea, jointly developed with Bayer AG, rose 3% to $1.54 billion, including $392 million from the higher, 8-milligram dose version of the drug.
The high-dose version of the eye disease drug was launched in August 2023 and allows for longer intervals between injections for patients.Regeneron’s total revenue of $3.72 billion beat expectations of $3.67 billion, according to data compiled by LSEG.The drugmaker’s anti-inflammatory drug Dupixent posted sales of $3.82 billion, beating estimates of $3.78 billion. French partner Sanofi records Dupixent sales and profits are split equally between the companies. Dupixent is currently approved to treat six disease types including asthma, a skin condition called atopic dermatitis and most recently as an add-on treatment for chronic obstructive pulmonary disease. The company reported an adjusted profit of $12.46 per share for the quarter, above estimates of $11.69 per share.
(Reporting by Christy Santhosh in Bengaluru; Editing by Devika Syamnath)
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