Categories AlphaGraphs, Earnings, Health Care

Earnings: Regeneron Pharmaceuticals (REGN) Q1 profit falls as revenues drop 31%

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) on Friday reported a sharp fall in fourth-quarter revenues and adjusted earnings.

Regeneron Pharmaceuticals Q4 2022 earnings infographic

Total revenues plunged 31% year-over-year to $3.41 billion in the three months ended December 2022. Excluding REGEN-COV and Ronapreve, however, revenues increased by 14%.

The biotechnology firm’s fourth-quarter adjusted earnings nearly halved to $12.56 per share from $23.42 per share in the same period of 2021. Unadjusted profit was $1.20 billion or $10.50 per share, compared to $2.23 billion or $19.69 per share last year.

“In 2023, we remain committed to achieving the full potential of our diverse commercial- and clinical-stage portfolio, with a particular focus on aflibercept 8 mg, Dupixent in a variety of type 2 allergic diseases, and our promising oncology and hematology assets,” said the company’s CEO Leonard Schleifer.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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