Jan 30 (Reuters) – U.S. drugmaker Regeneron Pharmaceuticals beat analysts’ estimate for fourth-quarter profit on Friday, helped by strong demand for its eczema treatment, Dupixent.
Dupixent, which Regeneron co-develops with French drugmaker Sanofi, has become an increasingly important growth driver as sales of its eye disease drug, Eylea, faces pressure from cheaper versions and rival treatments such as Roche’s Vabysmo.
Investors are also focused on how Regeneron and Sanofi will mitigate a sales hit for Dupixent, which will lose key patents beginning in 2031.
Sanofi Chief Financial Officer François-Xavier Roger said on Thursday the company would not be able to offset the loss of sales once Dupixent, its largest revenue driver, comes off patent.
Quarterly Dupixent sales recorded by Sanofi rose 34% to $4.9 billion, in line with analysts’ expectations.
Total Eylea sales for the quarter fell 28% to $1.1 billion, missing estimates of $1.25 billion, according to data compiled by LSEG.
Sales of Regeneron’s cancer treatment, Libtayo, were at $425 million, compared with the estimate of $375.68 million.
Regeneron had been facing several regulatory setbacks due to issues at the Catalent facility, now run by Novo Holdings, leading to delays in three pending U.S. Food and Drug Administration applications for Eylea.
The company said the FDA has approved a new manufacturer to fill vials for the high-dose version of the drug, with a decision on the drugmaker’s application expected in the second quarter next year.
Investors have also been waiting for Regeneron to reach an agreement with the Trump administration to reduce prescription drug prices, following similar deals struck by other drugmakers that received letters from the U.S. President last year.
Regeneron’s total quarterly revenue was $3.88 billion, compared with the estimate of $3.80 billion.
It posted an adjusted profit of $11.44 per share, while analysts estimated $10.62.
(Reporting by Gnaneshwar Rajan and Sriparna Roy in Bengaluru; Editing by Shilpi Majumdar)
