(Reuters) – Regeneron Pharmaceuticals Inc (NASDAQ:REGN) beat Wall Street estimates for quarterly profit on Thursday, driven by strong demand for eczema treatment Dupixent.
Sales of Dupixent, recorded by its partner Sanofi (NASDAQ:SNY), surged by 33% to $2.79 billion, the company said.
The anti-inflammatory drug approved in 2017 has been helping mitigate the decline in sales of Eylea, the company’s blockbuster eye drug that is facing competition since Roche’s Vabysmo secured U.S. approval last year.
Regeneron reported adjusted profit of $10.24 per share for the second quarter, topping analysts’ average estimates of $9.84, according to Refinitiv data.
