© Reuters. FILE PHOTO: The Regeneron Pharmaceuticals company logo is seen on a building at the company’s Westchester campus in Tarrytown, New York, U.S. September 17, 2020. Picture taken September 17, 2020. REUTERS/Brendan McDermid/File Photo
(Reuters) -Regeneron Pharmaceuticals on Thursday beat Wall Street estimates for third-quarter profit, driven by strong demand for its eczema treatment Dupixent.
On an adjusted basis, the company earned $11.59 per share for the quarter, above analysts’ estimates of $10.72, according to LSEG data.
Anti-inflammatory drug Dupixent, which was approved in 2017, has aided Regeneron (NASDAQ:)’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 (NASDAQ:), rose 33% to $3.10 billion.
Eylea sales for the quarter was $1.49 billion, which included $43 million sales from the higher dose, or 8 milligram dose that recently received approval in the United States.