Regeneron (REGN) Misses Q1 EPS by 101c, Revenues Miss; Provides FY19 Operating Outlook

Regeneron (NASDAQ: REGN) reported Q1 EPS of $4.45, $1.01 worse than the analyst estimate of $5.46. Revenue for the quarter came in at $1.712 billion versus the consensus estimate of $1.76 billion.

• First quarter 2019 GAAP diluted EPS was $3.99 and non-GAAP diluted EPS was $4.45
• First quarter 2019 revenues increased 13% to $1.71 billion versus first quarter 2018
• First quarter 2019 EYLEA® (aflibercept) Injection U.S. net sales increased 9% to $1.07 billion versus first quarter 2018
• First quarter 2019 EYLEA net sales outside the United States, which are recorded by the Company\'s collaborator Bayer(1), increased 7% to $669 million versus first quarter 2018
• First quarter 2019 Dupixent® (dupilumab) global net sales, which are recorded by the Company\'s collaborator Sanofi, were $374 million
• First quarter 2019 Libtayo® (cemiplimab) U.S. net sales were $27 million; Libtayo was launched in October 2018
• First quarter 2019 GAAP diluted EPS was $3.99 and non-GAAP diluted EPS was $4.45
• FDA approved Dupixent for moderate-to-severe atopic dermatitis in adolescents
• First quarter 2019 revenues increased 13% to $1.71 billion versus first quarter 2018
• First quarter 2019 EYLEA® (aflibercept) Injection U.S. net sales increased 9% to $1.07 billion versus first quarter 2018
• First quarter 2019 EYLEA net sales outside the United States, which are recorded by the Company\'s collaborator Bayer(1), increased 7% to $669 million versus first quarter 2018
• First quarter 2019 Dupixent® (dupilumab) global net sales, which are recorded by the Company\'s collaborator Sanofi, were $374 million
• First quarter 2019 Libtayo® (cemiplimab) U.S. net sales were $27 million; Libtayo was launched in October 2018

FDA approved Dupixent for moderate-to-severe atopic dermatitis in adolescents

Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced financial results for the first quarter of 2019 and provided a business update.

"In the first quarter, aggregate sales of all Regeneron-invented products, recorded by the Company and its collaborators, were $2.27 billion, an increase of 23% over the same period last year. This was driven by an 8% increase in EYLEA net sales, 185% increase in Dupixent net sales, and a strong initial launch for Libtayo in advanced cutaneous squamous cell carcinoma," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "We continue to unlock the full potential of Dupixent, which is now FDA-approved in atopic dermatitis and asthma in both adults and adolescents and is currently under Priority Review by the FDA for chronic rhinosinusitis with nasal polyps. Regeneron also continues to invest in a broad immuno-oncology portfolio. At the June European Hematology Association meeting, we look forward to presenting updated promising results of the Phase 1 study of REGN1979 in relapsed or refractory B-cell non-hodgkin lymphoma, including in patients who have failed previous CAR-T therapy."

For earnings history and earnings-related data on Regeneron (REGN) click here.

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