On Friday, Regeneron Pharmaceuticals reported a better-than-expected Q4 as sales for their new disease-treating drug, Dupixent, rose.
Its stock price increased by 4.25% to $783.13 per share. Also, it is anticipated to hike by 0.07% to $783.31 apiece in the upcoming session.
The earnings per share of Regeneron improved to $12.56, above analysts’ expectations of $10.17. It is higher than the previous $11.14 data.
Moreover, its revenue went up to $3.41 billion, higher than the $3.13 billion forecast. These figures are better than the former $2.94 billion record.
Dupixent, the new drug of Regeneron, had sales that rallied by 38.00% to $2.45 billion in the fourth quarter. According to analysts, it was almost in line with forecasts of $2.36 billion to $2.46 billion.
The pharmaceutical company had a return on equity of 31.16% and a net margin of 39.17%.
However, there were no sales of Regeneron Covid antibody in the US last year after completing its final drug deliveries. In the period a year earlier, the antibody brought in around $2.30 billion in sales.
Besides the drug mentioned, which is sold as Ronapreve in Europe, sales have boosted by 14.00%.
Eylea by Regeneron Keeps Off Rival Roche
In 2022, Eylea by Regeneron had $6.30 billion in sales, higher by 8.00% compared to 2022. Its increase came despite a 3.00% drop in sales in the fourth quarter.
It is caused by the temporary closing of a non-profit fund that gives co-pay assistance to patients. Later in the fourth quarter, it recovered from the issue, adding that the fund had been restored.
Moreover, when Regeneron CEO was asked about the plans for Eylea, it was mentioned that connections with Roche would stop.
Within the first three quarters of 2022, its rival Roche reported sales of $282.00 million. Also, 70.00% of the users have switched off Eylea.
According to Regeneron Commercial Chief Marion McCourt, there is competition in the marketplace. He said that using Vabysmo resulted in some patients switching back to other agents like Eylea.