On Thursday, Regeneron Prescribed drugs Inc REGN reported third-quarter adjusted EPS of $12.46, up 8% year-over-year, beating the consensus of $11.69.
The corporate reported gross sales of $3.72 billion, up 11%, beating the consensus of $3.67 billion.
“Regeneron had a powerful third quarter marked by 11% income development. We continued to deepen the affect of our commercialized medicines this quarter, with ongoing management for our retinal franchise, expanded international attain of Libtayo, and notable development from Dupixent,” mentioned Leonard S. Schleifer, Board co-Chair, President and Chief Government Officer of Regeneron.
Additionally Learn: Regeneron Chief Flags Well being Dangers with Fashionable Weight-Loss Medicines Like Ozempic, Says Firm Targets Muscle Preservation For Its Weight problems Medication
“Our sturdy third quarter monetary efficiency was highlighted by double-digit income development and continued funding in our rising pipeline,” mentioned Christopher Fenimore, Senior Vice President, Finance and Chief Monetary Officer of Regeneron.
Third quarter 2024 U.S. internet gross sales for Eylea HD and Eylea elevated 3% versus third quarter 2023 to $1.54 billion, together with $392 million from Eylea HD.
A decrease internet promoting value adversely impacted the online product gross sales of EYLEA within the third quarter of 2024.
Libtayo international internet gross sales elevated by 25% to $289 million.
Sanofi SA SNY collaboration income elevated from $1.06 billion to $1.26 billion.
The corporate mentioned its weight problems scientific program is now enrolling.
In its earnings presentation, Regeneron mentioned Part 2 research to analyze if addition of trevogrumab (anti-myostatin) to Novo Nordisk A/S‘ NVO semaglutide with and with out garetosmab (antiactivin A) improves the standard of weight reduction and/or improves upkeep of weight reduction publish semaglutide discontinuation.
Security and tolerability information for high-dose trevogrumab in wholesome volunteers confirmed no new security indicators.
The corporate is on monitor to finish enrollment by year-end 2024; outcomes for each major endpoints are anticipated in 2H25.
Value Motion: REGN inventory is down 10.7% at $824.28 eventually verify Thursday.
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