Biotech and Pharma

Regeneron quarterly profit beats Wall Street estimates on strong drug sales

A technician prepares a flow cell slide for loading onto a genetic sequencing machine at a Regeneron Pharmaceuticals laboratory at the biotechnology company's headquarters in Tarrytown, New York
Mike Segar | Reuters

Regeneron Pharmaceuticals 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.

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, according to Refinitiv IBES data.