Regeneron's fourth-quarter sales climb 29 percent, beating estimates

Regeneron Pharmaceuticals announced Thursday that fourth-quarter sales jumped 29 percent year-over-year to $1.6 billion, topping analyst estimates of $1.5 billion, boosted by revenue from Eylea and Dupixent. In the three-month period, profit slumped 31 percent to $174 million, with the company recording a charge of $326.2 million related to the recent corporate tax overhaul in the US. 

In the quarter, US sales of Eylea climbed 14 percent to $975 million, while the product's overall revenue was up 19 percent at $1.6 billion. CEO Leonard Schleifer said "in 2017, Regeneron's core Eylea business continued to grow and we diversified our revenue stream by bringing two new products to patients in need." 

Regarding other products, sales of the cholesterol drug Praluent, which is partnered with Sanofi, rose 54 percent to $63 million, topping analyst estimates by $10 million. Last October, a US appeals court reversed a lower court decision barring the drugmakers from marketing Praluent after a district court concluded that the drug infringed patents held by Amgen. 

FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

Meanwhile, quarterly sales of Dupixent reached $139 million, besting forecasts of $122 million, with revenue from Zeltrap jumping 56 percent year-over-year to $25 million. Sales of Kevzara, which was approved in the US and EU last year, totalled $9 million. 

For the full year, sales rose 21 percent to $5.9 billion, with overall revenue from Eylea increasing 14 percent to $5.9 billion. Profit in the 12-month period jumped 34 percent to $1.2 billion.

"We are anticipating additional pipeline progress in 2018, including regulatory decisions for dupilumab in uncontrolled asthma and cemiplimab in advanced cutaneous squamous cell carcinoma, cardiovascular outcomes data for Praluent, as well as Phase III data for Eylea in diabetic retinopathy," commented Schleifer. 

To read more Top Story articles, click here.