Regeneron Diversifies Portfolio as Eylea Revenue Takes a Hit
BIOMARKER
1. Regeneron's wet age-related macular degeneration (AMD) medicine, Eylea, experienced a 6% drop in sales in Q1 2023 compared to the same period in the previous year.
2. Eylea's sales were also down 4% compared to the previous quarter, due to increased competitive pressure, likely from Roche's Vabysmo.
3. Vabysmo, a bi-specific antibody, received FDA approval in January 2022 for the treatment of wet AMD and diabetic macular edema (DME).
4. Eylea works by acting as a decoy receptor, normalizing the hyperactive blood vessel growth in the eyes in wet AMD.
5. Despite a drop in Eylea sales, Regeneron's total revenue for Q1 2023 increased by 7% to over $3.1 billion compared to the same quarter the previous year.
6. Dupixent, an atopic dermatitis medicine developed with Sanofi, accounted for 25% of Regeneron's revenues in Q1 2023.
7. To counter the falling sales of Eylea, Regeneron is focusing on the diversification of its portfolio, with potential approval of an 8-mg dose of Eylea.
8. Apart from Eylea and Dupixent, Regeneron's oncology business is starting to contribute meaningfully to the company's revenue.
9. The skin cancer medicine Libtayo earned $110 million in the U.S. and $67 million in international markets in Q1 2023.
10. Regeneron has increased its investment in R&D by 30% in Q1 2023, spending $1.1 billion in order to continue diversifying its portfolio.