BAYZF - Regeneron to post over $1.3B U.S. Eylea sales in Q4

2024-01-08 14:06:31 ET

Disclosing its preliminary financials for Q4 2023, Regeneron Pharmaceuticals ( NASDAQ: REGN ) announced Monday that it intends to recognize ~$1.34B as U.S. net product sales from its blockbuster eye disease therapy Eylea during the quarter.

Meanwhile, its high-dose version of the therapy, Eylea HD, for which German conglomerate Bayer ( OTCPK:BAYZF ) ( OTCPK:BAYRY ) has partnered, has brought in ~$123M in U.S. net product sales during the period.

In an SEC filing ahead of a presentation at the Annual J.P. Morgan Healthcare Conference on Monday, the Tarrytown, New York-based pharma giant added that its recent decision to extend the research partnership with Intellia Therapeutics ( NTLA ) will lead to a $30M pre-tax charge.

The amount will be recognized as acquired in-process research and development costs and hurt GAAP and non-GAAP net income per diluted share by about $0.21 in Q4 2023, Regeneron ( REGN ) added.

In October, Regeneron ( REGN ) and Intellia ( NTLA ) expanded their existing research partnership for gene editing therapies to focus on additional targets in neurological and muscle diseases.

More on Regeneron Pharmaceuticals

• Regeneron Pharmaceuticals Inc. (REGN) American Society of Hematology 2023 Investor Conference - (Transcript)
• Regeneron Pharmaceuticals, Inc. (REGN) Piper Sandler 35th Annual Healthcare Conference (Transcript)
• Regeneron Pharmaceuticals, Inc. (REGN) Presents at Jefferies London Healthcare Conference (Transcript)
• Alvotech rises as biosimilar to Regeneron’s Eylea succeeds in clinical trial
• Regeneron expands battle over Eylea patents in new lawsuit against Samsung Bioepis

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