Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) has announced its Q2 2021 financial results and offered a corporate update.
Regeneron reported revenue of $5.14 billion
The company reported a 163% revenue increase to $5.14 billion compared to $2.76 billion primarily attributed to REGEN-COVTM(2), with revenues excluding REGEN-COV(1)(2) increasing 22%. EYLEA US net sales were up 28% to $1.42 billion, while Dupixent global net sales were up 59% to $1.5 billion, which Sanofi recorded. The company’s Q2 2021 GAAP EPS was $27.97, and non-GAAP diluted EPS was $25.8.
The FDA updated REGEN-COV EUA with a lower dose, post-exposure prophylaxis, and subcutaneous administration during the quarter. In addition, the REGEN-COV phase III RECOVERY trial in hospitalized patients with Severe COVID-19 attained a primary outcome. The company also reported that Dupixent considerably enhanced hives and itch in patients having chronic spontaneous urticaria, making the first disease to show pivotal results.
Regeneron CEO Leonard Schleifer said, “Regeneron had outstanding performance in the second quarter during which we delivered to the U.S. government the entire order for our COVID-19 antibody cocktail and recognized record global sales from our EYLEA and Dupixent franchises. We continue to advance Dupixent’s potential to help new patient groups, with recent positive Phase 3 data in chronic spontaneous urticaria and additional late-stage read-outs expected later this year in prurigo nodularis, eosinophilic esophagitis, and pediatric atopic dermatitis. With today’s positive Phase 3 results in combination with chemotherapy in non-small cell lung cancer, Libtayo yet again demonstrates its potential to be a leading checkpoint inhibitor.”
Regeneron evaluating products for additional indications
Regeneron has around 30 product candidates currently in clinical development that include six commercialized products that it is currently evaluating more indications.
CFO Robert Landry said, “Regeneron performed exceptionally well in the second quarter with the core business on a strong growth trajectory as we invest in our diverse and differentiated pipeline for long-term and sustainable growth.”
