Business Strategy and Outlook
| Karen Andersen |Regeneron has leveraged its monoclonal antibody research and development platform to become one of the few biotechs to emerge as a profitable commercial operation and establish a narrow moat. Lead drug Eylea has global sales around $9 billion annually and is approved for wet age-related macular degeneration and other eye-related indications. The drug remains well positioned, as its high-dose formulation should allow it to continue to hold strong market share against biosimilars and Roche's new branded drug, Vabysmo.