Regeneron (REGN) Tops Q3 EPS by $1.23, Revenues Beat
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Regeneron (NASDAQ: REGN) reported Q3 EPS of $8.36, $1.23 better than the analyst estimate of $7.13. Revenue for the quarter came in at $2.29 billion versus the consensus estimate of $2.09 billion.
- Third quarter 2020 revenues increased 32% to $2.29 billion versus third quarter 2019(4)
- Third quarter 2020 EYLEA® U.S. net sales increased 11% to $1.32 billion versus third quarter 2019
- Third quarter 2020 Dupixent® global net sales(2), which are recorded by Sanofi, increased 69% to $1.07 billion versus third quarter 2019
- Third quarter 2020 GAAP diluted EPS was $7.39 and non-GAAP diluted EPS(1) was $8.36
- REGN-COV2 trial in the COVID-19 outpatient setting met primary and key secondary endpoints
- FDA accepted for priority review Libtayo® (cemiplimab-rwlc) for both advanced non-small cell lung cancer and basal cell carcinoma
- FDA approved Inmazeb™ for Ebola (Zaire ebolavirus)
"Last week, Regeneron achieved an important milestone in the fight against COVID-19 with prospective Phase 2/3 results showing REGN-COV2 significantly reduced virus levels and the need for further medical attention in non-hospitalized patients; we have shared these important data with regulatory authorities," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "Even with our intense commitment to fighting COVID-19, Regeneron continues to deliver across all aspects of our business. This quarter we had robust top- and bottom-line growth driven by EYLEA in retinal diseases and Dupixent in atopic dermatitis and asthma. In 2021, we look forward to important potential launches including for our PD-1 inhibitor Libtayo in non-small cell lung cancer and advanced basal cell carcinoma. Lastly, we are proud that our novel antibody cocktail REGN-EB3 recently became the first FDA-approved treatment for Ebola, underscoring the potential of antibody therapies to address deadly infectious diseases."
"We continue to invest in our promising pipeline while delivering meaningful revenue and earnings growth. Our revenue base is becoming more diversified with increasing contribution from Dupixent and Libtayo," said Robert E. Landry, Executive Vice President, Finance and Chief Financial Officer of Regeneron. "This is evidenced by Dupixent achieving in excess of $1 billion in global net sales this quarter."
For earnings history and earnings-related data on Regeneron (REGN) click here.
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