Regeneron Pharmaceuticals (NASDAQ:REGN) shares fell over 3% in early Monday afternoon trading after it told investors that US net product sales of its franchise of Eylea totalled about $1.46 billion in the fourth quarter of 2023, below analysts' consensus estimates.
The figures for the eye drug were divulged in a presentation by the company at the 42nd Annual JP Morgan Healthcare Conference.
Preliminary 4Q sales of Eylea (aflibercept) Injection were approximately $1.34 billion, while sales of the newer high-dose Eylea HD Injection 8 mg reached $123 million, Regeneron said in a corporate update at the conference.
According to Reuters, Wells Fargo analyst Mohit Bansal last week pegged consensus Wall Street estimates for US sales of Eylea at $1.53 billion.
The company is scheduled to release its 4Q and full-year 2023 results on February 2.
Its shares were down $26.50 at $890.94 by 1:30pm in New York.