Regeneron Pharmaceuticals Q2 Earnings Call Highlights
Article excerpt
Regeneron Pharmaceuticals REGN reported second-quarter revenue growth of 17% from a year earlier to $4.3 billion, supported by continued strength in Dupixent, EYLEA HD and Libtayo. Non-GAAP diluted earnings per share rose 11% to $14.29, while non-GAAP net income reached $1.5 billion. Chief Executive Officer Leonard Schleifer said the company delivered its second consecutive quarter of double-digit growth in both revenue and earnings. He also noted the death of longtime Regeneron director Arthur “Art” Ryan, describing him as a trusted adviser who served on the board for more than two decades. Commercial brands set quarterly highs Dupixent global net product sales, as reported by Sanofi, totaled $6 billion in the quarter, increasing 38% on a constant-currency basis. U.S. sales rose 42% to $4.6 billion, driven by growth in established indications including atopic dermatitis, asthma, nasal polyps and eosinophilic esophagitis, as well as newer launches in COPD, chronic spontaneous urticaria, bullous pemphigoid and allergic fungal sinusitis. Marion McCourt, executive vice president of commercial, said more than 1.5 million patients are actively treated with Dupixent globally. The company expects global sales growth to remain strong in the second half, though growth is expected to moderate compared with the first half as the business annualizes recent indication launches and faces...
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The company continues to seek FDA approval for an EYLEA HD pre-filled syringe before year-end.
