Regeneron's Q3 Results Beat Estimates

(Reuters) – U.S. drugmaker Regeneron (NASDAQ:REGN) Pharmaceuticals surpassed Wall Street's expectations for third-quarter profit and revenue on Thursday, driven by strong demand for its eczema treatment Dupixent and the blockbuster eye disease drug Eylea. Regeneron is aiming to upgrade patients using Eylea to a high-dose version, as the drug faces threats from biosimilar products and stiff competition from rivals, including Roche's Vabysmo.

Swiss drugmaker Roche reaffirmed its full-year profit forecast while beating quarterly sales estimates last week, banking on strong demand for Vabysmo. Total U.S. net sales of Eylea, co-developed with Bayer AG (ETR:BAYGN), rose 3% to $1.54 billion, including $392 million from the higher, 8-milligram dose version of the drug launched in August 2023, which allows for longer intervals between injections for patients.

Regeneron's total revenue of $3.72 billion surpassed expectations of $3.67 billion, based on data compiled by LSEG. The drugmaker's anti-inflammatory drug Dupixent posted sales of $3.82 billion, exceeding estimates of $3.78 billion. Sales and profits from Dupixent are split equally with French partner Sanofi (NASDAQ:SNY). The drug is currently approved for six disease types, including asthma, 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.