Regeneron Exceeds Quarterly Estimates, Driven by Strong Sales of Eczema Drug Dupixent
Regeneron Pharmaceuticals reported second-quarter results that exceeded Wall Street estimates, driven primarily by strong sales from its eczema drug Dupixent and a high-dose version of the eye treatment Eylea. Global net sales for Dupixent reached $6 billion, surpassing expectations of $5.34 billion, while U.S. sales of the higher dose of Eylea rose 52% to $596 million due to increased demand and volume. The company also repaid its Sanofi Development Balance in full, which analysts believe could improve future financial performance by boosting margins. Regeneron's quarterly revenue climbed 17% year-over-year to $4.29 billion, surpassing the expected $3.82 billion. Its non-GAAP adjusted profit per share was reported at $14.29, well above analyst estimates of $10.26. The positive results led Regeneron's shares to rise nearly 5% before market open.
Topics: Dupixent Eylea Pharmaceuticals Revenue Growth Stock Performance