Regeneron Shares Dip After Earnings Miss Due to Eylea Struggles

Published 1 days agoREGN

Regeneron Shares Dip After Earnings Miss Due to Eylea Struggles

Regeneron Pharmaceuticals experienced a sharp downturn in its stock value following a disappointing earnings report. The company posted adjusted earnings of $8.22 per share, falling short of analysts' expectations of $8.82. Reuters highlighted that this was largely due to a decline in sales of Eylea, Regeneron's flagship eye drug, which saw a 26% drop in U.S. sales to $1.04 billion, below the anticipated $1.18 billion. This underperformance contributed to an overall revenue miss for the quarter, with the company reporting $3.03 billion against the expected $3.27 billion.

The decline in Eylea sales is partly attributed to intensifying market pressures from more affordable alternatives and competition from Roche's Vabysmo. Additionally, Regeneron faced a regulatory setback when the FDA declined approval for a pre-filled syringe version of Eylea HD, due to issues with a third-party supplier. These challenges have weighed on the company's financial performance and led to a 7% drop in Regeneron's shares during premarket trading.

Despite the hurdles with Eylea, Regeneron reported a 19% growth in sales of Dupixent, its leading anti-inflammatory medication, reaching $3.67 billion. However, this still fell short of forecasts. The company also faced disappointment with its cancer drug, Libtayo, which generated $285 million in sales, missing expectations of $340.5 million. Overall, these figures underscore the competitive and regulatory challenges Regeneron faces, even as it continues to drive growth in key segments.

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