(Reuters) -Regeneron Pharmaceuticals 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)
(Reporting by Christy Santhosh in Bengaluru; Editing by Shreya Biswas)
