Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) Announces Q3 2020 Revenue Of $2.29 Boosted Mainly By EYLEA® Sales

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) has announced its Q3 2020 financial results reporting 32% YoY increase in revenue to $2.29 billion and provided corporate updates.

Regeneron reports nets sales of $1.218 billion for EYLEA

Net product sales in the US for EYLEA® was $1.218 billion with overall distributor inventory levels remaining within Regeneron’s one-to-two week projected range. The company’s total revenue included collaboration revenues of $653 million from Sanofi and Bayer partnership for the share of profit for antibodies commercialization. Also, the company received a $50 million sales milestone from Sanofi after the accrual of antibodies sales outside the US surpassing $1 billion.

Five of the company’s product candidates currently marketed are under evaluation for additional indications. Regeneron and Sanofi announced in October that a third phase study of Dupixent® had met primary and secondary endpoints in children between 6 and 11 years with uncontrolled moderate-to-severe Asthma. The companies plan for regulatory submission in the US and EU in Q1 20221. The EMA’s CHMP adopted a positive opinion for Dupixent, thus extending its approval in the EU for children with severe atopic dermatitis eligible for systemic therapy.

Regeneron’s COVID-19 treatment advancing well

Regeneron also submitted a request to the US FDA for Emergency Use Authorization for REGN-COV2 in patients having mild-to-moderate COVID-19 at risk of poor outcomes. Leonard Schleifer, the CEO and president of the company, said that results of phase REGN-COV2 study show that it considerably reduced virus levels and need for more medical attention for non-hospitalized patients. The company shared the data with authorities. The Independent Monitoring Committee recommended in October that the REGN-COV2 treatment studies for hospitalized patients needed modification.

The company’s Oncology program is advancing well, and recently the FDA accepted for priority review the sBLA for Libtayo® as a monotherapy in first-line locally advanced or metastatic NSCLC patients. Regeneron also submitted a regulatory application in the EU for Libtayo® as a first-line NSCLC monotherapy. The FDA also accepted for priority review sBLA for Libtayo in metastatic or locally advanced basal cell carcinoma.