Regeneron Pharms beats by $0.11, beats on revs; raises EYLEA US net product sales guidance
Reports Q2 (Jun) earnings of $2.89 per share, $0.11 better than the Capital IQ Consensus of $2.78; revenues rose 50.0% year/year to $999 mln vs the $887.59 mln consensus.
- Collaboration revenues in the second quarter of 2015 increased primarily due to higher reimbursement of the Company's research and development expenses under its antibody collaboration with Sanofi and an increase in the Company's net profit from commercialization of EYLEA outside the United States.
- Net sales of EYLEA in the United States increased 58% to $655 million from $415 million in the second quarter of 2014.
- Overall distributor inventory levels remained within the Company's one- to two-week targeted range.
- Co raises EYLEA US net product sales to +45-50% from +30-35%, lowers R&D and SG&A guidance