What happened
Shares of Regeneron Pharmaceuticals (REGN -0.80%) were up as much as 8.2% on Thursday morning after the biotech company announced positive news on Thursday for a phase 3 trial for Dupixent (dupilumab) to treat patients with chronic obstructive pulmonary disease (COPD). Regeneron's shares are up more than 18% this year, and the stock has a 52-week low of $538.01 and a 52-week high of $812.69.
So what
Regeneron partnered with Sanofi (SNY -1.56%) on the phase 3 trial and said it met all primary and secondary endpoints compared to a placebo on patients with uncontrolled COPD and evidence of type 2 inflammation. The company said that Dupixent is the first biologic therapy to show a significant (30%) reduction in severe or moderate exacerbations of COPD over the course of two years while assisting in lung function and COPD respiratory symptoms.
The trial had 939 current or former smokers who showed improvements in lung function and improved COPD respiratory symptoms. If approved by the Food and Drug Administration (FDA), Dupixent will be the first new COPD therapy in a decade. Sanofi's shares were also up more than 6% on the news.
Now what
Dupixent, a monoclonal antibody that treats inflammatory conditions by inhibiting the proteins interleukin-4 and interleukin-13, has already been approved to treat several other maladies: atopic dermatitis, asthma, chronic rhinosinusitis with nasal polyps, allergic inflammation of the esophagus, and prurigo nodularis, a chronic skin disease characterized by itchy lumps. The drug brought Dupixent and Sanofi a combined $8.68 billion in revenue in 2022, up 40%.
According to Statista research, the drug is expected to reach $11 billion in sales this year. The increase is crucial to Regeneron, whose sales were down 24% last year because of declining revenue for its COVID-19 therapies.
