Why Is Sanofi Partner Regeneron Pharmaceuticals Stock Trading Higher Today?

Regeneron Pharmaceuticals Inc REGN reported fourth-quarter adjusted EPS of $11.86, down 6% Y/Y, beating the consensus of $10.77.

Revenues increased 1% to $3.43 billion, beating the consensus of $3.29 billion. Total revenues excluding Ronapreve (COVID-19 treatment) reached $3.44 billion, up 14% Y/Y.

In the fourth quarter of 2023, Dupixent global net sales (recorded by Sanofi SA SNY) increased 31% Y/Y to $3.22 billion.

Related: Regeneron/Sanofi’s Largest Selling Drug Dupixent Scores FDA Approval For Infants With Esophagus Inflammation.

In the fourth quarter of 2023, U.S. net sales for Eylea HD and Eylea were $1.46 billion, down 2% Y/Y, including $123 million from Eylea HD, due to a lower net selling price and volumes.

Eylea volumes in the fourth quarter of 2023 were impacted by the August 2023 launch of Eylea HD and the subsequent transition of Eylea patients to Eylea HD.

Fourth quarter of 2023, Libtayo sales increased 44% to $244 million.

“We were pleased with our fourth-quarter and full-year 2023 financial performance, highlighted by revenue growth of 14% and 12%, respectively, when excluding contributions from Ronapreve, reflecting continued strength across our business,” said Robert E. Landry, Executive Vice President, Finance and Chief Financial Officer of Regeneron. 

Concurrently, on Friday, the European Medicines Agency accepted for review the marketing application for linvoseltamab for relapsed/refractory multiple myeloma who have progressed after at least three prior therapies. 

Tuesday, Regeneron formed Regeneron Cell Medicines after 2seventy bio Inc TSVT agreed to sell its oncology and autoimmune research and development programs, clinical manufacturing capabilities, and related platform technologies.

Regeneron will make an upfront payment of $5 million and a single milestone payment.

Around 150 employees from 2seventy bio will transition to Regeneron.

Price Action: REGN shares are up 3.26% at $989.00 during the premarket session on the last check Friday.

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