Regeneron Pharma Q4 Profit Declines; Adj. Total Revenues Up 14%

Regeneron Pharmaceuticals, Inc. (REGN) reported fourth-quarter adjusted profit per share of $12.56 compared to $23.42, prior year. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $10.03, for the quarter. Analysts' estimates typically exclude special items.

Net profit was $1.20 billion or $10.50 per share compared to $2.23 billion or $19.69 per share, prior year.

Revenue declined 31% to $3.41 billion. Total revenues excluding REGEN-COV and Ronapreve was $3.02 billion, up 14%. Analysts on average had estimated $3.13 billion in revenue. EYLEA U.S. net sales decreased 3% to $1.50 billion.

For the full year 2022, non-GAAP net income per share was $44.98, compared to $74.35, last year. Full year revenues decreased 24% to $12.17 billion. Excluding REGEN-COV and Ronapreve, revenues increased 17%.

"In 2023, we remain committed to achieving the full potential of our diverse commercial- and clinical-stage portfolio, with a particular focus on aflibercept 8 mg, Dupixent in a variety of type 2 allergic diseases, and our promising oncology and hematology assets," said Leonard Schleifer, President and CEO of Regeneron.

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