Regeneron On Monday afternoonBefore the release of the JPM report, the preliminary results for the fourth quarter of 2024 were announced, showing U.S. sales of Eylea HD at $305 million.Below the forecast of $411 million.The sales of the regular version of Eylea in the fourth quarter reached $1.19 billion, surpassing the forecast of $1.07 billion. However, the regular versionEylea sales included $85 million in benefits from a one-time increase in wholesaler inventory.
Evercore ISI analyst Cory Kasimov described the data for Eylea HD as "relatively bleak" in a report, noting a 22% decline from the third quarter of 2024. Kasimov added that the figure "could raise questions about the drug's long-term competitiveness against Roche's Vabysmo."RBC Capital Markets analyst Brian Abrahams said the results give us a glimpse into Eylea's future as it faces cheaper biosimilars and continued competition from Roche's Vabysmo.
Investors initially appreciated Regeneron's development of a high-dose version of Eylea. Unlike the original, Eylea HD will not be affected by cheaper biosimilars for a period of time. The dosage is once every 4 weeks for the first three doses, then once every 8 to 16 weeks thereafter. In contrast, the standard version of Eylea requires once every 4 weeks for the first five doses, then switches to once every two months.But transitioning patients from the standard dose of Eylea to Eylea HD has proven to be a challenge.Regeneron CEO Len Schleifer acknowledged that the company did not have "all the necessary tools" to "optimize" this eye disease treatment.Regeneron hopes to achieve a series of goals for Eylea HD, including obtaining approval for the pre-filled syringe by mid-2025.The company also requested that the FDA make a decision by April 20 to extend the dosing interval of Eylea HD to 24 weeks for the treatment of macular degeneration patients.Regeneron also hopes that the drug can treat retinal vein occlusion, with a dosing regimen of once every four weeks to maximize dosing flexibility."We can do a lot of things to strengthen the image of this product,"Schleifer Say."It needs more weapons.”
Piper Sandler analyst Christopher Raymond said: "All in all, we still believe that the transition to HD will take more time, and as major brands expand and roll out new features, we think HD has the opportunity to return to growth mode."Welcome to follow and share! All articles in this official account can be reproduced freely as long as the source is acknowledged.
