Regeneron (REGN) Tops Q3 EPS by 33c
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Regeneron (NASDAQ: REGN) reported Q3 EPS of $3.47, $0.33 better than the analyst estimate of $3.14. Revenue for the quarter came in at $1.14 billion versus the consensus estimate of $1.05 billion.
EYLEA® (aflibercept) Injection for Intravitreal Injection
- In the third quarter of 2015, net sales of EYLEA in the United States increased 65% to $734 million from $445 million in the third quarter of 2014. Overall distributor inventory levels remained within the Company's one- to two-week targeted range.
- Bayer HealthCare commercializes EYLEA outside the United States. In the third quarter of 2015, net sales of EYLEA outside of the United States(1) were $371 million, compared to $277 million in the third quarter of 2014. In the third quarter of 2015, Regeneron recognized $131 million from its share of net profit from EYLEA sales outside the United States, compared to $85 million in the third quarter of 2014.
- In October 2015, the European Commission granted marketing authorization of EYLEA for the treatment of visual impairment due to myopic choroidal neovascularization.
2015 Financial Guidance(3)
The Company's updated full year 2015 financial guidance consists of the following components:
EYLEA U.S. net product sales
50% - 55% growth over 2014
(previously 45% - 50% growth over 2014)
Non-GAAP unreimbursed R&D (2)
$540 million - $560 million
(previously $510 million - $550 million)
Non-GAAP SG&A (2)
$630 million - $650 million
(previously $610 million - $650 million)
Cash tax as a % of non-GAAP pre-tax income (2)
16% - 20%
(previously 15% - 22%)
$625 million - $675 million
(previously $675 million - $750 million)
For earnings history and earnings-related data on Regeneron (REGN) click here.
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