financetom
Business
financetom
/
Business
/
Regeneron beats quarterly results on strong demand for eczema, eye treatments
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved