Regeneron Q1 2023 Earnings Report
Key Takeaways
Regeneron reported a 7% increase in first quarter 2023 revenues, reaching $3.16 billion. The company saw growth in Dupixent global sales and U.S. EYLEA sales, accompanied by progress in its clinical pipeline with multiple regulatory approvals and positive trial results. GAAP diluted EPS was $7.17, and non-GAAP diluted EPS was $10.09, including an unfavorable $0.42 impact from acquired IPR&D charge.
Total revenues increased by 7% to $3.16 billion compared to Q1 2022.
Dupixent global net sales (recorded by Sanofi) increased 37% to $2.49 billion compared to Q1 2022.
GAAP diluted EPS was $7.17 and non-GAAP diluted EPS was $10.09, including an unfavorable $0.42 impact from acquired IPR&D charge.
Multiple FDA and EC approvals were achieved across five products, expanding the reach of Regeneron's medicines.
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Forward Guidance
Regeneron's full year 2023 financial guidance includes updates to GAAP R&D, GAAP SG&A, GAAP gross margin on net product sales, COCM, capital expenditures, and GAAP effective tax rate.