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Mar 31, 2024
Regeneron Q1 2024 Earnings Report
Reported a slight decrease in revenue but experienced growth in key products and pipeline advancements.
Key Takeaways
Regeneron reported first quarter 2024 financial results with a 1% decrease in total revenue to $3.145 billion. Excluding Ronapreve, revenues increased by 7%. The company saw significant growth in Dupixent and Libtayo sales, and the pipeline progressed with regulatory submissions and approvals.
Total revenues decreased by 1% to $3.145 billion, but increased 7% excluding Ronapreve.
Dupixent global net sales increased by 24% to $3.08 billion.
U.S. net sales for EYLEA HD and EYLEA were $1.40 billion, including $200 million from EYLEA HD.
Libtayo global net sales increased by 45% to $264 million.
Regeneron
Regeneron
Regeneron Revenue by Segment
Forward Guidance
Regeneron updated its full year 2024 financial guidance, reflecting the acquisition of 2seventy bio's pipeline.
Positive Outlook
- GAAP R&D expenses are now projected to be $4.920–$5.170 billion.
- Non-GAAP R&D expenses are projected to be $4.400–$4.600 billion.
- GAAP SG&A expenses are projected to be $2.940–$3.090 billion.
- Non-GAAP SG&A expenses are projected to be $2.550–$2.650 billion.
- GAAP effective tax rate is projected to be 7%-9%.