Regeneron Pharmaceuticals Inc (NASDAQ:REGN) has recently released its third quarter earnings report, with Eylea (aflibercept) sales being the highlight.
Eylea Sales Performance
Eylea has been one of the main drivers of growth for Regeneron over the past couple of years. During the third quarter, net product sales of Eylea have surged 16% year-over-year to $854 million from $734 million.
However, to continue this momentum, the company needs to overcome a major challenge first. Many patients do not consult retinal specialists who often prescribe Eylea. Instead, they consult ophthalmologists to get laser therapy without understanding that Eylea is a potential alternative treatment.
Q3 Financial Results
For the period, Regeneron Pharmaceuticals Inc (NASDAQ:REGN) had a total revenue of $1.22 billion, up by 7% year-over-year from $1.14 billion. Net product sales, on the other hand, have advanced year-over-year to $857 million from $738 million.
Along with the strong sales performance of Eylea, Praluent (alirocumab) sales have also surged to $38 million from $4 million.
Net income came in at $265 million, up by 26% year-over-year from $210 million. This indicates a diluted earnings per share (EPS) of $2.27 for the third quarter.
Research and Development Update
The company has also provided updates regarding its product pipeline clinical development programs. Presently, 16 candidates, which include Eylea and 15 human monoclonal antibodies, are undergoing various clinical trials.
Dupixent (dupilumab), a human monoclonal antibody blocking signaling of IL-4 and IL-13, is currently being assessed for asthma, atopic dermatitis, eosinophilic esophagitis, and nasal polyps.
Nesvacumab, a human monoclonal antibody co-formulated with aflibercept for intravitreal injection, is currently being assessed for the treatment of patients with diabetic macular edema (DME) under the Phase 2 RUBY clinical trial.
Rinucumab, a human monoclonal antibody co-formulated with aflibercept for intravitreal injection, is currently being assessed for the treatment of patients with neovascular age-related macular degeneration (wet AMD) under the CAPELLA clinical development program.
Sarilumab, a human monoclonal antibody targeting IL-6R for rheumatoid arthritis (RA), is currently being assessed under the Phase 3 SARIL-RA clinical trial.
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) has closed at $365.39, up by 7.09%, on Monday.
Note: This article is written by Adam Russell and originally published at Market Exclusive.