Regeneron (REGN) Q2 Earnings Beat, REGEN-COV Boosts Performance
Zacks Investment Research | Aug 04, 2021 10:09PM ET
Regeneron (NASDAQ:REGN) Pharmaceuticals, Inc. industry ’s growth of 1%.
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Regeneron reported second-quarter earnings of $25.80 per share, comfortably beating the Zacks Consensus Estimate of $19.55. Earnings jumped 260% from the year-ago quarter due to higher sales.
Total revenues in the reported quarter surged 163% year over year to $5.14 billion and beat the Zacks Consensus Estimate of $3.89 billion. The year-over-year growth was driven by incremental contribution from the antibody cocktail, REGEN-COV (a cocktail of two monoclonal antibodies — casirivimab and imdevimab), for COVID-19. Total revenues, excluding REGEN-COV, increased 22% to $2.38 billion.
During the second quarter, Regeneron fulfilled its second agreement with the U.S. government to manufacture and deliver 1.25 million doses of REGEN-COV at the lowest treatment dose authorized by the FDA, and recognized $2.59 billion of REGEN-COV sales.
h3 Quarterly Highlights/h3Lead drug Eylea’s sales in the United States were $1.4 billion compared with $1.1 billion in the year-ago quarter. Please note that Regeneron co-developed Eylea with the HealthCare unit of Bayer AG (DE:BAYGN) the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .
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