Regeneron (REGN) Tops Q2 EPS by 61c, Revenues Beat

August 6, 2019 6:43 AM EDT

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Regeneron (NASDAQ: REGN) reported Q2 EPS of $6.02, $0.61 better than the analyst estimate of $5.41. Revenue for the quarter came in at $1.93 billion versus the consensus estimate of $1.8 billion.

  • Second quarter 2019 revenues increased 20% to $1.93 billion versus second quarter 2018
    • EYLEA® U.S. net sales increased 17% to $1.16 billion versus second quarter 2018
    • Dupixent® global net sales, which are recorded by the Company's collaborator Sanofi, increased 166% to $557 million versus second quarter 2018
  • For the first time on a quarterly basis, the antibody collaboration with Sanofi achieved profitability
  • Second quarter 2019 GAAP diluted EPS was $1.68 and second quarter non-GAAP diluted EPS(1) was $6.02. GAAP diluted EPS includes $3.55 impact related to the Alnylam up-front payment and unrealized losses on the Alnylam equity investment.
  • Important regulatory approvals
    • FDA approved EYLEA for diabetic retinopathy and Dupixent for chronic rhinosinusitis with nasal polyposis
    • European Commission approved Libtayo® for metastatic or locally advanced cutaneous squamous cell carcinoma and Dupixent for adolescents with atopic dermatitis

"We had a great quarter marked by top- and bottom-line growth as well as important advances across our innovative R&D engine," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "We are further unlocking EYLEA's potential to help patients with the recent approval in diabetic retinopathy, and are advancing a high-dose formulation into the clinic later this year. Dupixent is growing rapidly in moderate-to-severe atopic dermatitis and asthma, and we continue to receive new indications in younger patients and additional Type 2 diseases, including the recent U.S. approval for chronic rhinosinusitis with nasal polyposis. Lastly, our immuno-oncology platform, which includes Libtayo and our portfolio of bispecific antibodies, is progressing well, with the most advanced bispecific program, REGN1979 (CD20xCD3), entering a potentially pivotal Phase 2 trial in follicular lymphoma."

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

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