Press release
Regeneron Reports First Quarter 2024 Financial and Operating Results
First quarter 2024 revenues decreased 1% to $3.15 billion versus first quarter 2023; excluding RonapreveTM(a)(b), revenues increased 7%First quarter 2024
About this update from Regeneron Pharmaceuticals, Inc.
[{"type":"text","content":"First quarter 2024 revenues decreased 1% to $3.15 billion versus first quarter 2023; excluding RonapreveTM(a)(b), revenues increased 7%First quarter 2024 Dupixent® global net sales (recorded by Sanofi) increased 24% to $3.08 billion versus first quarter 2023First quarter 2024 U.S. net sales for EYLEA® HD and EYLEA® were $1.40 billion, including $200 million from EYLEA HDFirst quarter 2024 Libtayo® global net sales increased 45% to $264 million versus first quarter 2023First quarter 2024 GAAP diluted EPS of $6.27 and non-GAAP diluted EPS(a) of $9.55New $3.0 billion share repurchase program authorized in April 2024 TARRYTOWN, N.Y., May 02, 2024 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced financial results for the first quarter of 2024 and provided a business update. \"The Regeneron team has already made substantial progress this year, delivering our approved medicines to more patients around the globe, advancing our pipeline consisting of dozens of clinical-stage programs, and relentlessly pursuing cutting-edge science,\" said Leonard S. Schleifer, M.D., Ph.D., Board co-Chair, President and Chief Executive Officer of Regeneron. \"We had a strong quarter of EYLEA HD uptake, and we are well positioned to continue our leadership in retinal diseases. Dupixent continues to grow at a remarkable pace seven years into its launch and is currently treating over 850,000 patients across a variety of diseases characterized by type 2 inflammation. Our promising oncology franchise is strengthening, driven by strong global growth in Libtayo sales and potential regulatory approvals later this year for linvoseltamab in relapsed/refractory multiple myeloma.\" Financial Highlights ($ in millions, except per share data) Q1 2024 Q1 2023 % ChangeTotal revenues $3,145 $3,162 (1%)Total revenues excluding Ronapreve(a)(b) $3,145 $2,940 7% GAAP net income $722 $818 (12%) GAAP net income per share - diluted $6.27 $7.17 (13%) Non-GAAP net income(a) $1,116 $1,168 (4%) Non-GAAP net income per share - diluted(a) $9.55 $10.09 (5%) \"We are off to a strong start in 2024 as reflected in our solid first quarter financial results and the progress we have made across our growing pipeline,\" said Christopher Fenimore, Senior Vice President, Finance and Chief Financial Officer of Regeneron. \"While investing in innovation remains ou...