Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) on Tuesday reported third-quarter adjusted earnings of $11.83 per share, down 5% year-over-year, beating the consensus of $9.59.

The company reported sales of $3.75 billion, up 1% year over year, beating the consensus of $3.59 billion.

In the quarter, U.S. net sales for Eylea HD and Eylea decreased 28% year-over-year to $1.12 billion, including $431 million from Eylea HD and $681 million from Eylea.

Eylea HD sales increased due to higher volumes, driven by stronger demand, partly offset by a lower net selling price. Lower volumes negatively impacted Eylea sales due to competitive pressures, a loss of market share to compounded bevacizumab driven by patient affordability constraints, and the continued transition of patients to Eylea HD ...