Oct 28 (Reuters) - Regeneron Pharmaceuticals ( REGN )
beat Wall Street estimates for third-quarter results on Tuesday,
helped by strong demand for its eczema treatment, Dupixent, and
cancer treatment Libtayo, sending its shares up 5.6% premarket.
Analysts said Dupixent, made by the U.S. drugmaker in
partnership with Sanofi, continues to impress, after
the drug
topped
quarterly sales expectations when the French company
reported its results last week.
Meanwhile, Regeneron's eye disease drug, Eylea, has been
facing stiff competition from cheaper versions and rivals such
as Roche's Vabysmo.
The company is trying to move its customer base to a newer
formulation of Eylea with a higher dosage, which allows longer
intervals between injections for patients.
Roche said last week the third-quarter sales of Vabysmo,
which treats a common form of blindness in the elderly, came in
at 996 million Swiss francs ($1.26 billion), missing
expectations for the second consecutive quarter.
Analysts see the Eylea franchise as stable, but do not
expect it to grow significantly until Regeneron attains key
label and format extensions, which may be delayed into 2026.
Regeneron's total revenue came in at $3.75 billion for the
third quarter, beating analysts' average estimate of $3.59
billion, according to data compiled by LSEG.
U.S. sales of the 8-milligram high-dose version of Eylea,
jointly developed with Bayer AG, rose 10% to $431
million from a year ago.
Regeneron's skin cancer treatment, Libtayo, brought in sales
of $365 million, above estimates of $343.75 million.
The company earned a quarterly profit of $11.83 per share on
an adjusted basis, compared with expectations of $9.59.
($1 = 0.7931 Swiss francs)