Regeneron Pharmaceuticals Inc.'s drug Eylea, an injection designed to treat neovascular or 'wet' age-related macular degeneration, a leading cause of blindness in older people has been approved by the FDA. Eylea is the first competitor to Basel, Switzerland-based Roche's Lucentis. Its approval boosts the number of Regeneron's marketable products to two.
Regeneron's CEO says Eylea will be available to patients within days. Eylea will be injected every 8-weeks, half as often as Lucentis. It is expected to capture 16% of market from Lucentis.
Eylea may cost $1,950 per injection. The drug will hit peak sales of $1.1 billion by 2021.