Regeneron Pharmaceuticals reported stronger-than-expected third-quarter results on Tuesday, buoyed by robust demand for its eczema drug Dupixent and cancer therapy Libtayo, sending its shares up 5.6% in premarket trading.
The U.S. biotechnology firm posted total revenue of $3.75 billion, topping Wall Street expectations of $3.59 billion, according to LSEG data. On an adjusted basis, earnings per share came in at $11.83, well above analyst estimates of $9.59 per share.
Dupixent, developed in partnership with Sanofi, continued to perform strongly after also exceeding sales expectations in Sanofi’s results last week. Libtayo, Regeneron’s skin cancer treatment, generated $365 million in sales, beating forecasts of $343.75 million.
Meanwhile, Regeneron’s eye disease drug Eylea has been under pressure from cheaper competitors, including Roche’s Vabysmo, which reported lower-than-expected quarterly sales of $1.26 billion. To retain its market share, Regeneron is focusing on transitioning patients to a higher-dose 8 mg version of Eylea, which allows longer intervals between treatments.
Analysts expect the Eylea franchise to remain stable, though major growth is likely to resume only after the company secures pending label and format extensions—potentially delayed until 2026.
Overall, Regeneron’s solid quarter highlights its strength in immunology and oncology, with Dupixent and Libtayo offsetting the impact of increased competition in its ophthalmology segment.
