Regeneron forecasts a continued drop in Eylea revenue next year after a sustained year-over-year downturn since mid-2023. Management attributes the projected decline to pricing pressures and anticipated share losses once biosimilars gain approval.

The first U.S. biosimilars of Eylea are slated to launch in mid-2026, promising steep discounts that could erode originator volumes. Regeneron is preparing for aggressive price competition as early biosimilar entrants seek rapid market adoption.

To mitigate the Eylea shortfall, Regeneron plans to introduce Eylea HD, a high-dose formulation designed to bolster revenue. Concurrently, Dupixent’s new atopic dermatitis age approvals and Libtayo’s expanding presence in Europe and Asia are projected to sustain top-line growth.