According to the report*, Regeneron surpassed Alexion as the biotech benchmark leader in the third quarter due to its commercialization strategy for its injectable wet-AMD (age-related macular degeneration)
As GlobalData’s Industry Analyst and co-author of the report, Adam Dion, explains: “Regeneron’
“We believe the Japanese ophthalmology market provides a significant opportunity for Regeneron, as wet-AMD is the fourth common cause of acquired blindness in the country, with 1.2% residents over the age of 50 having wet-AMD in at least one eye.”
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The report, which ranks the performance of 15 innovative biotech companies on 20 financial metrics, goes on to explain that Alexion’s ranking slipped to second place in the third quarter due to rising costs, particularly higher R&D expenses. The company’s R&D expenses grew to $54.3 million in the third quarter, a year-to-year increase of 48.4%.
GlobalData attributes the increase in R&D to Alexion’s acquisition of intangible assets associated with Enobia’s lead product candidate, asfotase alfa, an enzyme replacement therapy for patients suffering with hypophosphatasia (HPP), an ultra-rare, life-threatening genetic metabolic disease.
Alexion’s performance on this metric was significantly higher than its peer group average of 17.9% for the third quarter, which contributed to the company losing first place status it had achieved in the second quarter.
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