Regeneron posts solid Q3 on Eylea strength
- Regeneron's Q3 2014 revenues increased 22% year-over-year to $726 million, driven largely by sales of Eylea (aflibercept) for treatment of age-related macular degneration (AMD), macular edema after central retinal vein occlusion, and diabetic macular edema (DME).
- Net earnings for Q3 2014 were $449 million, compared with $361 million in Q3 2013.
- Adjusted earnings were $2.23 per share, compared with $2.13 per share in Q3 2013.
Eylea has been the driving force behind Regeneron's strong revenue growth. The drug was originally launched in November 2011 with an AMD indication. But by September 2012, Eylea had been approved by the FDA for treatment of macular edema after central retinal vein occlusion, and Regeneron's revenues from the drug started to steadily increase.
The most recent approval for Eylea, an indication for diabetic macular edema (DME) in June, bodes well for the company's continued growth. In addition, Regeneron is packing its pipeline with the development of 16 antibodies.