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Jun 30, 2024
Regeneron Q2 2024 Earnings Report
Regeneron's performance was driven by growth in EYLEA HD, Dupixent, and Libtayo.
Key Takeaways
Regeneron reported a strong second quarter in 2024, with a 12% increase in total revenue, driven by growth in key products such as EYLEA HD, Dupixent and Libtayo. The European Commission approved Dupixent as the first biologic therapy for uncontrolled COPD. The company is also advancing its clinical pipeline, with late-stage trials for Dupixent, itepekimab, fianlimab and Libtayo.
Second quarter 2024 revenues increased 12% to $3.55 billion versus second quarter 2023.
Second quarter 2024 Dupixent global net sales increased 27% to $3.56 billion versus second quarter 2023.
Second quarter 2024 U.S. net sales for EYLEA HD and EYLEA increased 2% to $1.53 billion versus second quarter 2023, including $304 million from EYLEA HD.
Second quarter 2024 GAAP diluted EPS increased 46% to $12.41 and non-GAAP diluted EPS increased 13% to $11.56 versus second quarter 2023.
Regeneron
Regeneron
Regeneron Revenue by Segment
Revenue by Segment
Net Product Sales Revenue
CapyFin.comCollaboration Revenue
CapyFin.comOther Revenue
CapyFin.comEYLEA HD - U.S. Revenue
CapyFin.comEYLEA - U.S. Revenue
CapyFin.comTotal EYLEA HD and EYLEA - U.S. Revenue
CapyFin.comLibtayo - U.S. Revenue
CapyFin.comLibtayo - ROW Revenue
CapyFin.comTotal Libtayo - Global Revenue
CapyFin.comPraluent - U.S. Revenue
CapyFin.comEvkeeza - U.S. Revenue
CapyFin.comSanofi Collaboration Revenue
CapyFin.comBayer Collaboration Revenue
CapyFin.comOther Collaboration Revenue
CapyFin.com Forward Guidance
Regeneron has updated its full year 2024 financial guidance, with adjustments to GAAP and Non-GAAP R&D and SG&A expenses, GAAP and Non-GAAP gross margin on net product sales, capital expenditures, and GAAP and Non-GAAP effective tax rate.
Positive Outlook
- Non-GAAP R&D is expected to be between $4.500 and $4.600 billion.
- GAAP SG&A is projected to be between $2.920 and $3.060 billion.
- Non-GAAP SG&A remains unchanged.
- Non-GAAP gross margin on net product sales is expected to be approximately 89%.
- Non-GAAP effective tax rate is projected to be between 10% and 11%.
Challenges Ahead
- GAAP R&D is projected to be between $5.020 and $5.170 billion.
- GAAP gross margin on net product sales is expected to be approximately 86%.
- Capital expenditures are projected to be between $750 and $820 million.
- GAAP effective tax rate is projected to be between 8% and 9%.
- COCM remains unchanged between $850 and $910 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income