The company announced an expanded agreement with the U.S. Department of Health and Human Services (HHS) to fund certain research and development activities related to COVID-19 treatments, including REGN-COV2 and the US Kevzara study. The company continues to monitor the potential impact on product sales as overall US Eylea demand was lower in April.
Regeneron expects fully-recruited clinical studies to remain generally on track. The company has paused new enrollment in certain studies in light of the pandemic and continues to monitor the evolving situation across global trial sites.
Looking ahead into 2020, the company now expects R&D expenses to be $2.15-2.31 billion, SG&A expenses to be $1.38-1.5 billion, and costs of goods sold to be $350-420 million. Capital expenditures are now predicted to be $510-590 million.