Regeneron (REGN) Tops Q2 EPS by $1.18, Revenues Beat
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Regeneron (NASDAQ: REGN) reported Q2 EPS of $7.16, $1.18 better than the analyst estimate of $5.98. Revenue for the quarter came in at $1.95 billion versus the consensus estimate of $1.74 billion.
Second quarter 2020 revenues increased 24% to $1.95 billion versus second quarter 2019(4)
Second quarter 2020 EYLEA® U.S. net sales were $1.11 billion
Second quarter 2020 Dupixent® global net sales(2), which are recorded by Sanofi, were $945 million
- Second quarter 2020 GAAP diluted EPS was $7.61 and non-GAAP diluted EPS(1) was $7.16
- Initiated Phase 2 and Phase 3 clinical trials of REGN-COV2 for the treatment and prevention of COVID-19
- FDA approved Dupixent for children aged 6 to 11 years with moderate-to-severe atopic dermatitis
- Dupixent eosinophilic esophagitis trial met co-primary endpoints and a second confirmatory Phase 3 trial in chronic obstructive pulmonary disease (COPD) was initiated
- Completed secondary offering of approximately 13 million shares of common stock held by Sanofi and purchased 9.8 million shares from Sanofi
"I'm very proud of how the Regeneron team has continued to drive important progress for patients, despite the significant challenges of the COVID-19 pandemic," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "We have advanced REGN-COV2, our antibody cocktail for COVID-19, into late-stage clinical studies in record time and are working to ensure supply is available later this year. We are continuing to drive strong performance with our marketed medicines, including EYLEA, Dupixent, and Libtayo, while also advancing research, development, and regulatory progress across a number of therapeutic areas including cancer, Type 2 inflammatory diseases, pain, and rare diseases."
"Regeneron's business continues to be resilient during these times, delivering double digit top- and bottom-line growth in the second quarter," said Robert E. Landry, Executive Vice President, Finance and Chief Financial Officer of Regeneron. "Our strong balance sheet, improved competitive outlook, increasingly diversified commercial portfolio, and robust pipeline position Regeneron well for sustained long-term growth."
For earnings history and earnings-related data on Regeneron (REGN) click here.
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