Who Owns Eylea?

Aflibercept began as a product of Regeneron's Trap platform, a fusion protein technology the company developed after its early neurotrophic factor programs failed in the 1990s. The same platform had produced Regeneron's first approved drug, Arcalyst, in 2008.

The FDA approved Eylea 2 mg in November 2011 for wet age-related macular degeneration, the leading cause of blindness in older adults. Its label later expanded to diabetic macular edema, macular edema following retinal vein occlusion, diabetic retinopathy, and retinopathy of prematurity.

The drug's key advantage was dosing interval. Where earlier anti-VEGF treatments such as Lucentis required monthly injections, Eylea supported dosing every eight weeks after loading, and it quickly became the market leader in retinal disease. U.S. and global sales climbed past $9 billion combined at the franchise's peak.

Competition arrived in force in 2022, when the FDA approved Roche's Vabysmo, a bispecific antibody offering longer dosing intervals. Original Eylea sales began declining as patients switched, and aflibercept biosimilars reached international markets.

Regeneron's response was Eylea HD, an 8 mg formulation that extends dosing to 12 to 16 week intervals in many patients. The FDA approved it in August 2023. By the third quarter of 2026, Eylea HD U.S. sales reached $699 million, up 62% year over year, while the total U.S. retinal franchise held at $1.1 billion for the quarter as the transition from the 2 mg version continued.