Regeneron Pharmaceuticals Thursday reported better-than-expected second quarter earnings of $5.45 per share on a revenue of $1.6 billion. Revenue for the quarter rose 9% year-over-year driven by strong US sales growth of Eylea and Dupixent drugs. On a GAAP basis, net income jumped 44% to $4.82 per share.
In the US, Eylea sales grew 8% to $992 million, while Dupixent saw its sale grow more than six times to $181 million.
“We are particularly pleased by US launch progress with Dupixent for adults with moderate-to-severe atopic dermatitis, driven by a positive experience in the marketplace by patients and physicians in this serious disease,” said CEO Leonard Schleifer in a statement.
In the second half of the year, the company anticipates two significant US regulatory approvals –cemiplimab for cell cancer and Dupixent for uncontrolled asthma.
In the second half of the year, the company anticipates two significant US regulatory approvals –cemiplimab for cell cancer and Dupixent for uncontrolled asthma.
The pharma-giant lowered its CapEx guidance for the full-year to $410-450 million from the prior guidance of $420-480 million. Outlook for effective tax rate was lowered to 13-16% from the earlier projected range of 15-18%.
Regeneron Q2 earnings conference call transcript
Regeneron shares rose 1% during early trading.
