© Reuters. FILE PHOTO: The Regeneron Pharmaceuticals company logo is seen on a building at the company’s Westchester campus in Tarrytown, New York, U.S. September 17, 2020. REUTERS/Brendan McDermid/File Photo
(Reuters) -Regeneron Pharmaceuticals on Monday reported eye drug Eylea’s fourth-quarter U.S. preliminary sales, which came below Wall Street expectations, as the company’s blockbuster product faced pressure from a rival.
The company garnered $1.34 billion in U.S. sales, while Wells Fargo analyst Mohit Bansal last week pegged consensus Wall Street estimates for U.S. sales of Eylea at $1.53 billion.
Eylea, jointly developed with Bayer AG (ETR:), has driven Regeneron (NASDAQ:)’s earnings for years, but its sales have come under pressure, partly from Roche’s Vabysmo that secured U.S. approval last year.
Regeneron has set its hopes on a higher-dose version of Eylea. U.S. sales of the version came in at about $123 million in the quarter, the company said.
This story originally appeared on Investing
