Business
Regeneron Reports First Quarter 2020 Financial and Operating Results
TARRYTOWN, N.Y., May 5, 2020 /PRNewswire/ -- First quarter 2020 revenues increased 33% to $1.83 billion versus first quarter 2019(4) First quarter EYLEA® U.S.
About this update from Regeneron Pharmaceuticals, Inc.
[{"type":"text","content":"TARRYTOWN, N.Y., May 5, 2020 /PRNewswire/ --\nFirst quarter 2020 revenues increased 33% to $1.83 billion versus first quarter 2019(4) First quarter EYLEA® U.S. net sales increased 9% to $1.17 billion versus first quarter 2019 First quarter Dupixent® global net sales(2), which are recorded by Sanofi, increased 129% to $855 million versus first quarter 2019 First quarter 2020 GAAP diluted EPS was $5.43 and non-GAAP diluted EPS(1) was $6.60 Libtayo® Phase 3 trial in first-line non-small cell lung cancer stopped early due to positive overall survival benefit with regulatory submissions planned later this year Libtayo showed clinically-meaningful and durable responses in pivotal second-line advanced basal cell carcinoma trial with regulatory submissions planned later this year Novel SARS-CoV-2 antibody \"cocktail\" treatment advancing rapidly; clinical studies planned for June 2020 Praluent restructuring agreements with Sanofi finalized Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced financial results for the first quarter of 2020 and provided a business update.\n\"Over 30 years, the Regeneron team has built a science and technology engine uniquely suited to address the COVID-19 pandemic and we are applying our signature passion, innovation, and drive to advance solutions. Our novel antibody cocktail, REGN-COV2, which is specifically-designed for both prevention and treatment, is expected to begin human studies in June and we are working in parallel to have large-scale quantities available by late summer,\" said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. \"Beyond our COVID-19 efforts, we maintain our commitment to the many other patients with serious diseases who are counting on us. In the first quarter, we saw continued growth with EYLEA, Dupixent, and Libtayo in the U.S. driven by underlying demand despite the impact of the pandemic. Moreover, we continue to advance our broad immuno-oncology platform, including the PD-1 inhibitor Libtayo, for which we plan regulatory submissions this year in both non-small cell lung cancer and basal cell carcinoma, based on recent promising late-stage results.\"\n\"We believe our recent revision to the accounting presentation better reflects the nature of revenues earned and costs incurred and simplifies our financial reporting,\" said Robe...