Regeneron Q2 2020 Earnings Report
Key Takeaways
Regeneron reported a 24% increase in revenue to $1.95 billion for Q2 2020, driven by strong performance of key products like EYLEA and Dupixent. The company advanced its COVID-19 antibody cocktail, REGN-COV2, into late-stage clinical trials and saw FDA approval of Dupixent for children aged 6 to 11 years with moderate-to-severe atopic dermatitis. GAAP diluted EPS was $7.61, and non-GAAP diluted EPS was $7.16.
Second quarter revenues increased 24% to $1.95 billion compared to Q2 2019.
GAAP diluted EPS was $7.61 and non-GAAP diluted EPS was $7.16.
Advanced REGN-COV2, antibody cocktail for COVID-19, into late-stage clinical studies.
FDA approved Dupixent for children aged 6 to 11 years with moderate-to-severe atopic dermatitis.
Regeneron
Regeneron
Regeneron Revenue by Segment
Regeneron Revenue by Geographic Location
Forward Guidance
Regeneron provided full year 2020 financial guidance.
Positive Outlook
- GAAP R&D: $2.605 billion–$2.725 billion (previously $2.150 billion–$2.310 billion)
- Non-GAAP R&D: $2.270 billion–$2.370 billion (previously $1.900 billion–$2.040 billion)
- GAAP SG&A: $1.400 billion–$1.480 billion (previously $1.380 billion–$1.500 billion)
- Non-GAAP SG&A: $1.210 billion–$1.270 billion (previously $1.190 billion–$1.290 billion)
- Effective tax rate (ETR): 9–11% (previously 10–12%)