Regeneron (REGN) Tops Q1 EPS by 89c, Revenues Miss
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Regeneron (NASDAQ: REGN) reported Q1 EPS of $9.89, $0.89 better than the analyst estimate of $9.00. Revenue for the quarter came in at $2.53 billion versus the consensus estimate of $2.55 billion.
- First quarter 2021 revenues increased 38% to $2.53 billion versus first quarter 2020; revenues excluding REGEN-COVTM(1) increased 20%
- First quarter 2021 EYLEA® U.S. net sales increased 15% to $1.35 billion versus first quarter 2020
- First quarter 2021 Dupixent® global net sales(2), which are recorded by Sanofi, increased 48% to $1.26 billion versus first quarter 2020
- First quarter 2021 GAAP diluted EPS was $10.09 and non-GAAP diluted EPS(1) was $9.89
- Three FDA approvals received: Libtayo® for first-line advanced non-small cell lung cancer (NSCLC) and advanced basal cell carcinoma (BCC), and EvkeezaTM for homozygous familial hypercholesterolemia (HoFH)
- Positive data reported from Phase 3 trials with REGEN-COV used to treat and prevent COVID-19
"Regeneron had a strong first quarter highlighting our continued evolution into a company with multiple durable product lines helping people with a range of serious diseases including COVID-19," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "We recently reported positive Phase 3 results for REGEN-COV in both the COVID-19 outpatient treatment and prevention settings and are working with national and state authorities to improve access. We expect continued growth with EYLEA in retinal diseases, as well as with Dupixent through further penetration in existing indications and a broad Phase 3 development program. In oncology, we are in the early days of launching Libtayo for advanced basal cell carcinoma and non-small cell lung cancer and recently announced positive pivotal data in cervical cancer with regulatory submissions planned for later this year."
For earnings history and earnings-related data on Regeneron (REGN) click here.
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