Categories AlphaGraphs, Earnings, Health Care

Regeneron beats market estimates on Q3 revenue and profits

Regeneron Pharmaceuticals Inc. (REGN) surpassed market expectations on revenue and earnings for the third quarter of 2018. The stock was up over 1% in early trading hours on Tuesday.

Total revenues grew 11% to $1.66 billion versus the prior-year quarter. The company also saw increases in revenues from its Sanofi and Bayer collaborations, which were driven by higher net sales of Dupixent and Praluent as well as higher international sales of EYLEA. Net product sales grew to $1.02 billion from $957 million last year, helped by higher EYLEA net product sales.

Regeneron third quarter 2018 Earnings Infographic
Regeneron Q3 2018 Earnings Infographic

On a GAAP basis, net income increased more than 50% to $595 million or $5.17 per share versus the year-ago quarter. Adjusted net income grew more than 40% to $675 million or $5.87 per share from last year.

Leonard S. Schleifer, President and CEO, said, “Regeneron continues to grow and diversify our business, while continuing to deliver very strong financial results. In addition to EYLEA reaching over $1 billion in quarterly US net sales, we also made significant progress with Dupixent, a key driver of future growth, and launched Libtayo, our first immuno-oncology therapy. Dupixent is now approved in the US for both atopic dermatitis and asthma and under regulatory review for the treatment of adolescents with atopic dermatitis – with another submission planned in chronic rhinosinusitis with nasal polyps. We also recently reported positive Phase 3 results for EYLEA in diabetic retinopathy, and expect an FDA action on our supplemental application for this indication in the first half of 2019.”

Eylea lifts Regeneron Q2 earnings

During the third quarter, Regeneron entered into a collaboration agreement with bluebird bio, Inc. for the research, development, and commercialization of novel immune cell therapies for cancer.

The company updated its guidance for the full year of 2018 and now expects Sanofi collaboration revenue to come in the range of $430 million to $455 million versus the previous guidance of $455 million to $485 million.


Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

HOG Earnings: Key quarterly highlights from Harley-Davidson’s Q4 2022 financial results

Harley-Davidson, Inc. (NYSE: HOG) reported fourth quarter 2022 earnings results today. Revenue increased 12% year-over-year to $1.14 billion. Net income attributable to Harley-Davidson, Inc. rose 94% YoY to $42 million,

After positive Q4, Advanced Micro Devices (AMD) looks at a mixed 2023

Advanced Micro Devices, Inc. (NASDAQ: AMD) this week issued a cautious outlook for the first quarter of 2023, after reporting stronger-than-expected fourth-quarter results. The chipmaker did not provide full-year guidance,

META Earnings: All you need to know about Meta Platforms’ Q4 2022 earnings results

Meta Platforms, Inc. (NASDAQ: META) reported fourth quarter 2022 earnings results today. Revenue declined 4% year-over-year to $32.17 billion. Net income fell 55% to $4.6 billion while EPS dropped 52%

Add Comment
Viewing Highlight