Regeneron beats quarterly profit estimates on eczema treatment strength

 Regeneron Pharmaceuticals on Thursday beat Wall Street estimates for third-quarter profit, driven by strong demand for its eczema treatment Dupixent.

Anti-inflammatory drug Dupixent, which was approved in 2017, has aided Regeneron's profits while sales of its eye drug Eylea has taken a backseat in recent quarters owing to increased competition from Roche's Vabysmo.

Quarterly sales of Dupixent, recorded by its partner Sanofi , rose 33% to $3.10 billion.

Eylea sales for the quarter fell 11% to $1.49 billion, which included $43 million sales from the higher dose, or 8 milligram dose that recently received approval in the United States.

Sales of the eye drug have missed Wall Street expectations so far this year, partly due to competition from Vabysmo since the rival secured U.S. approval last year.

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nalysts on average had expected sales of $2.20 billion for the drug in the quarter, according to LSEG data.

The company's anti-inflammatory drug, Dupixent, is currently approved for five indications including asthma and atopic dermatitis, or eczema.

TD Cowen analysts in a note ahead of the results said the global reach of Dupixent is expected to expand with projected global sales of $19 billion in 2027, which includes potential approval for use of the drug in patients with a type of lung disease called chronic obstructive pulmonary disease (COPD).

Data from a late-stage trial of the drug in COPD is expected next year.

On an adjusted basis, the company earned $11.59 per share for the quarter, above analysts' estimates of $10.72, according to LSEG data.

Regeneron's total revenue of $3.36 billion beat expectations of $3.23 billion.

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