Regeneron Pharmaceuticals ( (REGN) ) has released its Q3 earnings. Here is a breakdown of the information Regeneron Pharmaceuticals presented to its investors.
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Regeneron Pharmaceuticals, Inc. is a biotechnology company focused on discovering, developing, and commercializing innovative medicines for serious diseases across various therapeutic areas, including eye diseases, cancer, and rare diseases.
In the third quarter of 2024, Regeneron demonstrated strong financial performance with an 11% increase in revenues, reaching $3.72 billion. This growth was driven by significant increases in sales of their key products, including Dupixent and Libtayo.
Key highlights from the earnings report include a 23% increase in global net sales of Dupixent, reaching $3.82 billion, and a 24% increase in global net sales of Libtayo, totaling $289 million. The company’s GAAP diluted earnings per share saw a 30% rise to $11.54, while non-GAAP diluted EPS increased 8% to $12.46. Additionally, the FDA approved Dupixent for new indications, further expanding its market potential.
Regeneron’s management expresses optimism for the future, driven by a robust pipeline of approximately 40 product candidates and continued investment in research and development. With ongoing progress in pivotal studies and regulatory submissions, Regeneron expects to maintain its trajectory of growth and innovation in the biopharmaceutical industry.
