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Sep 30, 2020
Regeneron Q3 2020 Earnings Report
Reported a strong third quarter, driven by growth in EYLEA and Dupixent, and achieved an important milestone in the fight against COVID-19.
Key Takeaways
Regeneron reported a strong Q3 2020 with a 32% increase in revenue to $2.29 billion. GAAP diluted EPS was $7.39 and non-GAAP diluted EPS was $8.36. Key developments included positive results for REGN-COV2 in COVID-19 outpatients and FDA acceptance for priority review of Libtayo for advanced non-small cell lung cancer and basal cell carcinoma.
Third quarter 2020 revenues increased 32% to $2.29 billion versus third quarter 2019
Third quarter 2020 EYLEA® U.S. net sales increased 11% to $1.32 billion versus third quarter 2019
Third quarter 2020 Dupixent® global net sales increased 69% to $1.07 billion versus third quarter 2019
Third quarter 2020 GAAP diluted EPS was $7.39 and non-GAAP diluted EPS was $8.36
Regeneron
Regeneron
Regeneron Revenue by Segment
Regeneron Revenue by Geographic Location
Revenue by Segment
Net Product Sales Revenue
CapyFin.comOther Revenue
CapyFin.comRevenue by Geographic Location
U.S. Net Product Sales Revenue
CapyFin.com Forward Guidance
Regeneron provided full year 2020 financial guidance which includes GAAP and Non-GAAP estimates for R&D, SG&A, COGS, COCM, Other operating (income) expense, net, Capital expenditures, and Effective tax rate (ETR).
Positive Outlook
- R&D: $2.750 billion–$2.820 billion
- SG&A: $1.425 billion–$1.475 billion
- COGS: $485 million–$525 million
- Capital expenditures: $570 million–$600 million
- Effective tax rate (ETR): 9–11%
Challenges Ahead
- R&D Non-GAAP: $2.420 billion–$2.470 billion
- SG&A Non-GAAP: $1.235 billion–$1.265 billion
- COGS Non-GAAP: $440 million–$470 million
- COCM: $595 million–$625 million
- Other operating (income) expense, net: ($180) million–($200) million
Revenue & Expenses
Visualization of income flow from segment revenue to net income