earnings
confidence high
sentiment positive
materiality 0.75
Regeneron Q2 revenue down 44% to $2.86B; core revenue up 20%; EPS $7.47 GAAP, $9.77 non-GAAP
REGENERON PHARMACEUTICALS, INC.
2022-Q2 EPS reported
$16.07
revenue$5,822,300,000
- Excluding REGEN-COV, total revenue grew 20% to $2.849B, driven by EYLEA ($1.62B +14%) and Dupixent ($2.09B +40%).
- GAAP net income $852M ($7.47 diluted EPS) vs $3.099B ($27.97) Q2 2021; non-GAAP EPS $9.77 vs $25.80.
- Acquired Checkmate Pharmaceuticals for ~$250M and purchased Sanofi's Libtayo worldwide rights for $900M up-front.
- FDA approved Dupixent for atopic dermatitis in children 6 months-5 years and eosinophilic esophagitis; priority review for prurigo nodularis.
- Updated 2022 guidance: R&D $3.485-3.655B GAAP; SG&A $1.99-2.11B; gross margin on net product sales 90-91%.