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Regeneron Tops Q1 Estimates as Dupixent and Libtayo Outpace Eylea

Growth outside eye care offset pressure on Eylea.

The Regeneron Pharmaceuticals company logo is seen on a building at the company's Westchester campus in Tarrytown, New York, U.S. September 17, 2020. REUTERS/Brendan McDermid//File Photo
Regeneron raised GAAP gross margin on net product sales to 79% to 80% from 77% to 78%. Credit: viewimage / Shutterstock.com.

Overview

  • Regeneron, which reported results Wednesday, beat forecasts with adjusted earnings of $9.47 per share and revenue of $3.61 billion.
  • Dupixent, co-developed with Sanofi, posted 33% growth to $4.88 billion in Sanofi-recorded sales, while cancer drug Libtayo rose 54% to $438 million.
  • Eylea revenue fell 10% to $941 million even as the higher-dose Eylea HD climbed 52% to $468 million, with wholesaler inventory cuts and lower net prices weighing on results.
  • The company said the FDA missed an April decision date for approving a second manufacturer of the Eylea HD prefilled syringe, leaving the filing pending after a Catalent resubmission and a recent site re-inspection.
  • Regeneron authorized a $3 billion share buyback and announced a U.S. pricing deal that lowers some Medicaid prices and offers its cholesterol drug Praluent at a reduced price on TrumpRx.gov.