Summary
Regeneron Pharmaceuticals, Inc. (REGN) reported strong financial performance for the fiscal year 2017, driven by significant growth in its key products, EYLEA and Dupixent. Total revenues reached $5.87 billion, a substantial increase from $4.86 billion in 2016, with net income rising to $1.20 billion, or $10.34 per diluted share, up from $895.5 million, or $7.70 per diluted share, in the prior year. The company highlighted substantial progress across its diverse pipeline, with key advancements in its antibody-based programs. Dupixent received regulatory approvals in the U.S. and EU for atopic dermatitis and positive Phase 3 results for asthma, with submissions for the latter also made to the FDA. EYLEA saw continued sales growth and filed for a 12-week dosing interval. Additionally, cemiplimab showed promising results in advanced cutaneous squamous cell carcinoma and is progressing towards BLA submission. The company also advanced several other product candidates in clinical development for various serious diseases, underscoring its commitment to innovation and expanding its therapeutic offerings. Regeneron's robust performance is underpinned by its proprietary VelociSuite® technology platforms and strategic collaborations. The company's focus on scientific discovery and development, coupled with expanding manufacturing capabilities and a strong balance sheet, positions it well for future growth. Despite facing competitive pressures and regulatory complexities inherent in the biopharmaceutical industry, Regeneron's strategic advancements and financial health present a positive outlook for investors.
Financial Highlights
48 data points| Revenue | $5.87B |
| Cost of Revenue | $202.51M |
| Gross Profit | $5.67B |
| R&D Expenses | $2.08B |
| SG&A Expenses | $1.32B |
| Operating Expenses | $3.79B |
| Operating Income | $2.08B |
| Interest Expense | $25.10M |
| Net Income | $1.20B |
| EPS (Basic) | $11.27 |
| EPS (Diluted) | $10.34 |
| Shares Outstanding (Basic) | 106.30M |
| Shares Outstanding (Diluted) | 115.90M |
Key Highlights
- 1Total revenues for 2017 increased to $5.87 billion from $4.86 billion in 2016, driven by strong sales of EYLEA and new product launches.
- 2Net income grew to $1.20 billion in 2017, or $10.34 per diluted share, compared to $895.5 million, or $7.70 per diluted share, in 2016.
- 3EYLEA demonstrated robust sales growth, with a supplemental Biologics License Application (sBLA) filed for a 12-week dosing interval for neovascular age-related macular degeneration (wet AMD).
- 4Dupixent received U.S. and EU regulatory approval for moderate-to-severe atopic dermatitis and showed positive Phase 3 results for asthma, with an sBLA submitted to the FDA.
- 5Cemiplimab achieved positive top-line results in advanced cutaneous squamous cell carcinoma and initiated a rolling BLA submission to the FDA, with FDA Breakthrough Therapy designation granted.
- 6Regeneron continued to advance its pipeline, with multiple product candidates in various stages of clinical development across ophthalmology, allergic/inflammatory diseases, oncology, and other serious conditions.
- 7The company emphasized its proprietary VelociSuite® technology platforms as key enablers for its discovery and development efforts.