- Regeneron Pharmaceuticals Inc REG earned $12.56 per share for Q4 FY22fell 46% year-on-year, beating the street estimate of $10.03.
- Revenue fell 31% year over year to $3.41 billion; excluding REGEN-COV and Ronapreve, revenue rose 14%, slightly ahead of analyst consensus of $3.13 billion.
- The company saw no sales for its COVID-19 antibody drug in the quarter after the FDA decided last January to restrict its use in all states due to drug shortages Efficacy versus the Omicron variant.
- Eylea US net sales declined 3% to $1.5 billion due to a short-term switch to off-label use of compound bevacizumab and the temporary closure of a nonprofit fund that offers patient co-payments.
- US EYLEA volumes increased in the fourth quarter compared to a year ago.
- Related: The UK Medicines Agency warns of severe eye reactions associated with Sanofi/Regeneron’s Dupixent.
- Operating margin fell to 33.6% from 53.3%.
- The company announced a new $3 billion share repurchase program, which was approved in January 2023.
- The company’s net income fell to $1.2 billion, or $10.50 per share, in the quarter ended December 31, from $2.23 billion, or $19.69 per share, in the prior year ended.
- Price promotion: REGN shares closed at $751.20 on Thursday.
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