Regeneron posts increased Q2 profit, revenue on higher Eylea sales

Regeneron Pharmaceuticals said Tuesday that second-quarter profit more than doubled to $195 million, from $96 million in the year-ago period, while sales jumped 50 percent to $999 million, besting expectations of about $887.8 million. The company reported that US revenue from Eylea increased 58 percent to $655 million, and that it recognised $107 million from its profit share of the drug outside the US, where it is marketed by Bayer, compared to $67 million in the year-ago period.

"With the recent approval of Praluent for hypercholesterolaemia patients, a new collaboration with Sanofi in immuno-oncology, and increased US demand for Eylea, Regeneron has made critical, transformative advances in 2015," remarked CEO Leonard Schleifer. The PCSK9 inhibitor Praluent, which is co-developed with Sanofi, also received recent backing from the European Medicines Agency's Committee for Medicinal Products for Human Use to treat high cholesterol levels in certain patients. For related analysis on Praluent see ViewPoints: Regeneron, Sanofi seek leverage via Praluent’s aggressive US pricing.

Regeneron said product sales for the quarter totalled $658 million, up 57 percent versus the year-ago period. Meanwhile, the company said it realised $329 million in total collaboration revenue for the three-month period, versus $240 million in the year-ago quarter. Specifically, revenue from its collaborations with Sanofi and Bayer rose by 37 percent and 38 percent, respectively, to $195 million and $134 million.

For the full year, Regeneron boosted its Eylea sales growth outlook in the US to between 45 percent and 50 percent versus 2014, up from an earlier forecast of 30 percent to 35 percent. The company noted that the therapy's indication was expanded by Japanese regulators in June to include patients with macular oedema secondary to retinal vein occlusion.

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