Regeneron Pharmaceuticals (NASDAQ:REGN) on Friday topped Street forecasts with its Q2 financials, thanks mainly to U.S. sales for its newly developed high-dose version of its blockbuster eye care therapy Eylea, marketed with Bayer (OTCPK:BAYZF).<\/p>\n
The Tarrytown, New York-based pharma giant recorded $3.7B in revenue for the quarter, exceeding the consensus by $400M even as sales from its standard Eylea therapy plunged ~39% to $754M in the U.S. amid competitive headwinds.<\/p>\n
However, Eylea HD sales surged ~29% YoY to $393M thanks to higher sales volumes driven by increased uptake, while total Eylea sales fell ~25% YoY to $1.1B in the U.S.<\/p>\n
Globally, Eylea HD sales reached $634.9M with ~78% YoY growth, and Eylea sales fell ~28% YoY to $1.5B while REGN\u2019s skin cancer therapy Libtayo added $376.5M to the topline with ~27% YoY growth.<\/p>\n
“Regeneron had a strong quarter, marked by significant growth in U.S. sales of EYLEA HD and global sales of Dupixent and Libtayo, along with multiple regulatory approvals,” CEO Leonard Schleifer remarked.<\/p>\n
Meanwhile, REGN\u2019s collaboration revenue climbed ~22% YoY to $1.9B, driven by its Sanofi (SNY) collaboration, which added $1.4B to the topline with ~26% YoY growth, mainly due to higher profits attributed to increased sales for its asthma therapy Dupixent, marketed with the French company.<\/p>\n
For the bottom line, the company recorded $12.89 of non-GAAP earnings per share, exceeding the consensus by $4.46 while its non-GAAP gross margin reached ~86% compared to ~89% in the prior period.
\nLooking ahead, Regeneron (NASDAQ:REGN) projects nearly 83% of non-GAAP gross margin for 2025 compared to its prior forecast of 86%\u201387%.<\/p>\n
As for regulatory updates, the company said it expects delays for decisions related to its marketing applications for Eylea HD pre-filled syringe and for macular edema following retinal vein occlusion, which are currently pending at the FDA with a target action date in August.<\/p>\n
Regeneron (NASDAQ:REGN) attributed the delay to issues found during an FDA site inspection at a contract manufacturing site operated by Catalent, which was acquired by Novo Nordisk (NVO) recently.<\/p>\n","protected":false},"excerpt":{"rendered":"
Regeneron Pharmaceuticals (NASDAQ:REGN) on Friday topped Street forecasts with its Q2 financials, thanks mainly to U.S. sales for its newly developed high-dose version of its blockbuster eye care therapy Eylea, marketed with Bayer (OTCPK:BAYZF). The Tarrytown, New York-based pharma giant recorded $3.7B in revenue for the quarter, exceeding the consensus by $400M even as sales […]<\/p>\n","protected":false},"author":2,"featured_media":1318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[284,283],"class_list":{"0":"post-1317","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sitefansalaran-industry-news","8":"tag-driven-by-strong-performance-of-new-eylea-version","9":"tag-regeneron-outperforms-expectations-in-q2"},"yoast_head":"\n