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Regeneron beats quarterly results on strong demand for eczema, eye treatments
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Regeneron beats quarterly results on strong demand for eczema, eye treatments
Aug 1, 2024 6:08 AM

Aug 1 (Reuters) - Drugmaker Regeneron Pharmaceuticals

exceeded estimates for second-quarter revenue and

profit on Thursday, driven by strong demand for its top-selling

eczema and eye drugs.

The company has been upgrading patients who use its eye

treatment, Eylea, to a higher-dose version to beat the impact

from cheaper biosimilars available in the market and rival

drugs.

U.S. sales of Eylea, jointly developed with Bayer AG

, rose 2% to $1.53 billion in the reported quarter

from a year earlier, above LSEG estimates of $1.47 billion.

The sales included $304 million from the 8-milligram dose

version of the drug, which is four times the regular dosage.

Last week, rival Swiss drugmaker Roche highlighted

strong demand for its eye treatment, Vabysmo, and raised its

full-year earnings forecast.

Regeneron's anti-inflammatory drug, Dupixent, posted

quarterly sales of $3.56 billion, beating estimates of $3.47

billion.

The company's French partner Sanofi records

Dupixent sales, and profits are split equally between the firms.

Regeneron has filed for U.S. FDA's approval of Dupixent,

currently greenlit for five diseases, as an add-on treatment for

a chronic obstructive pulmonary disease.

The health regulator is expected to make a decision on the

additional indication by Sept. 27.

Regeneron reported an adjusted profit of $11.56 per share on

total revenue of $3.55 billion for the quarter, above analysts'

estimates of $10.61 per share and $3.38 billion, according to

LSEG data.

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