Business
Regeneron Reports First Quarter 2023 Financial and Operating Results
First quarter 2023 revenues increased 7% to $3.16 billion versus first quarter 2022First quarter 2023 Dupixent® global net sales (recorded by Sanofi)
About this update from Regeneron Pharmaceuticals, Inc.
[{"type":"text","content":"First quarter 2023 revenues increased 7% to $3.16 billion versus first quarter 2022First quarter 2023 Dupixent® global net sales (recorded by Sanofi) increased 37% to $2.49 billion versus first quarter 2022First quarter 2023 EYLEA® U.S. net sales were $1.43 billionFirst quarter 2023 GAAP diluted EPS of $7.17 and non-GAAP diluted EPS(a) of $10.09; includes unfavorable $0.42 impact from acquired IPR&D chargeEuropean Commission approved Dupixent for atopic dermatitis in children aged 6 months to 5 years and Libtayo® in combination with chemotherapy for advanced PD-L1 positive non-small cell lung cancer (NSCLC)Aflibercept 8 mg BLA for neovascular age-related macular degeneration (wet AMD) and diabetic macular edema (DME) accepted for FDA priority review with a target action date of June 27, 2023Positive results reported in Dupixent pivotal trial for chronic obstructive pulmonary disease (COPD) with evidence of type 2 inflammation; potential to become first biologic to treat COPD by showing significant reduction in exacerbationsPositive interim Phase 1 data reported for ALN-APP, an investigational RNAi therapeutic in development for Alzheimer’s disease and cerebral amyloid angiopathy TARRYTOWN, N.Y., May 04, 2023 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced financial results for the first quarter of 2023 and provided a business update. \"In the first quarter of 2023, we achieved six FDA and EC approvals across five products, allowing our homegrown medicines to reach even more patients around the world, while we also continued to grow revenue,\" said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. \"We remain focused on advancing our robust pipeline at all stages, and we were pleased to announce positive data from a late-stage study of Dupixent in COPD and make continued progress with our costimulatory and bispecific antibody candidates in oncology.\" Financial Highlights ($ in millions, except per share data) Q1 2023 Q1 2022 % ChangeTotal revenues $3,162 $2,965 7%GAAP net income $818 $974 (16%)GAAP net income per share - diluted $7.17 $8.61 (17%)Non-GAAP net income(a) $1,168 $1,318 (11%)Non-GAAP net income per share - diluted(a) $10.09 $11.49 (12%) \"Our business is off to a strong start in 2023, marked by our solid first quarter financial results and the pi...