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On Thursday, Regeneron Pharmaceuticals Inc (NASDAQ:REGN) reported second-quarter adjusted EPS of $11.56, up 13% year-over-year, beating the consensus of $10.61.
The company reported sales of $3.55 billion, up 12%, beating the consensus of $3.38 billion.
Also Read: Europe Approves Sanofi/Regeneron’s Dupixent for ‘Smoker’s Lungs’ A Month After US FDA Asks For Data.
“Regeneron had a strong quarter, with total revenue up 12% driven by notable growth for EYLEA HD, Dupixent, and Libtayo,” said Leonard S. Schleifer, Board co-Chair, President and Chief Executive Officer of Regeneron.
Eylea US sales fell 18% to $1.23 billion, primarily due to changing market dynamics, resulting in lower volumes and a lower net selling price.
Eylea HD sales reached $304 million, and overall Eylea sales increased 2% to $1.54 billion.
Regeneron’s anti-inflammatory drug, Dupixent, posted quarterly sales of $3.56 billion, as recorded by Sanofi SA (NASDAQ:SNY), and profits are split equally between the firms.
As a result, Regeneron’s collaboration cut from Sanofi rose 21% to $1.15 billion.
Second quarter Libtayo global net sales increased by 42% to $297 million.
“Our second quarter financial performance reflects continued strong momentum across our business, highlighted by double-digit revenue and earnings growth,” said Christopher Fenimore, Senior Vice President, Finance and Chief Financial Officer of Regeneron. “In the second half of the year, we look forward to advancing our pipeline with several important clinical data readouts as well as continued commercial execution and prudent capital deployment to drive long-term value creation.”
Price Action: REGN stock is up 1.06% at $1,090.61 at last check Thursday.
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