Regeneron Pharmaceuticals (REGN) 2024 Wells Fargo Healthcare Conference summary

EYLEA HD performance and market dynamics

• EYLEA HD has surpassed one year since launch, with net sales over $300 million in the most recent quarter, a 52% increase over the prior quarter.

• Combined EYLEA HD and EYLEA accounted for about 45% of the anti-VEGF category, totaling just over $1.5 billion in the quarter.

• Uptake is driven by switches from EYLEA, LUCENTIS, Avastin, and new (naive) patients, reflecting broad physician confidence.

• Physicians are extending dosing intervals to 7–10 weeks post-loading, indicating improved durability.

• Prefilled syringe for EYLEA HD is on track for early 2025 market entry, the fastest timeline for such a launch.

DUPIXENT growth and competitive landscape

• DUPIXENT has achieved strong uptake across age ranges in atopic dermatitis, but still only penetrates mid-teen percentages of the patient opportunity.

• The product is recognized as first and best in category by KOLs, with a dual mechanism of action impacting Type 2 disease.

• Competition from new entrants is expected to expand the market, but DUPIXENT's efficacy, safety, and breadth of indications are seen as key differentiators.

• Every two-week dosing is well-tolerated, with focus on maintaining continuous relief for patients.

COPD and pipeline updates

• FDA requested additional subpopulation data for DUPIXENT in COPD, resulting in a three-month PDUFA delay to September 27, 2024.

• U.S. launch preparations benefit from existing relationships with pulmonologists and experience in asthma clinics.

• COPD indication is a major opportunity, with about 300,000 eligible patients in the U.S. and 500,000 in G7 countries.

• DUPIXENT is already approved for COPD in Europe, with early positive feedback from Germany.