Regeneron Pharmaceuticals (NASDAQ:REGN) on Friday reported a quarterly profit that beat analysts’ estimates, benefiting from a recovery in demand for its flagship eye drug and a jump in sales of its eczema drug.
Figures out Friday morning show the drug maker showed Fourth quarter 2020 revenues increased 30% to $2.42 billion versus Q4 2019.
Physician-administered macular degeneration drug Eylea sales were hurt during the height of the pandemic last year as patients were reluctant to visit doctors’ offices.
As lockdowns eased, U.S. sales of the drug rose nearly 10% to $1.34 billion for the fourth quarter.
Physician-administered macular degeneration drug Eylea sales were hurt during the height of the pandemic last year as patients were reluctant to visit doctors’ offices.
As lockdowns eased, U.S. sales of the drug rose nearly 10% to $1.34 billion for the fourth quarter.
Sales from eczema drug Dupixent, which are recorded by Regeneron partner Sanofi, were $1.17 billion, compared to $751.5 million a year earlier.
Regeneron earned $9.53 per share on an adjusted basis, beating estimates of $8.39 per share.
Said CEO Leonard Schleifer, "In 2021, in addition to our ongoing work on COVID-19, we expect further diversified growth driven by continued EYLEA momentum, expanded approvals and increased market penetration for Dupixent, and new launches for Libtayo in oncology.
"We anticipate U.S. regulatory action for Libtayo in both non-small cell lung cancer and basal cell carcinoma within the next month – and anticipate additional readouts later this year from across our oncology pipeline, including the bispecific platform."
REGN shares gathered 96 cents to $499.80
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