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Regeneron Pharmaceuticals Loses 7% Following Q4 Miss

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Shares of Regeneron Pharmaceuticals Inc (NASDAQ: REGN) were trading lower by around 7 percent early Tuesday morning after the company reported its fourth quarter results.

Regeneron Pharmaceuticals said that it earned $2.83 per share in the fourth quarter on revenue of $1.16 billion. Wall Street analysts were expecting the company to earn $3.36 per share on revenue of $1.17 billion.

Regeneron Pharmaceuticals noted that EYLEA injection U.S. net sales rose 44 percent from a year ago while net sales of EYLEA outside of the U.S. rose to $413 million from $297 million a year ago. The company recognized $140 million from its share of net profit from EYLEA sales outside of the U.S., marking an increase from $88 million a year ago.

Net sales of Praluent during the fourth quarter totaled $7 million following its launch in the U.S. during the third quarter and in certain countries in the European Union in the fourth quarter.

"Regeneron had a successful 2015, with strong growth in EYLEA sales for retinal diseases, the approval of Praluent for hypercholesterolemia, and important advances across all stages of our pipeline," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron.

"In 2016, we look forward to driving increased physician education, patient access, and reimbursement for Praluent in the United States and to launching this important medicine in other
countries around the world. We also anticipate significant pipeline progress including the U.S. FDA action on the sarilumab application for rheumatoid arthritis, the Phase 3 results and potential U.S. regulatory submission for dupilumab in atopic dermatitis, and the continued progress of our development programs for retinal diseases, asthma, pain, infectious diseases, and cancer. Realizing these important product and pipeline opportunities will require significant investments, which are essential to support our long-term growth and success."

 

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