Why Is Sanofi Partner Regeneron Pharmaceuticals Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
Regeneron Pharmaceuticals Inc (REGN) reported a Q4 adjusted EPS of $11.86, surpassing estimates and showing a revenue increase of 1% to $3.43 billion. Dupixent sales, recorded by Sanofi (SNY), rose 31% to $3.22 billion. Regeneron's Eylea sales slightly declined, while Libtayo sales surged 44%. Additionally, Regeneron formed Regeneron Cell Medicines after acquiring assets from 2seventy bio Inc (TSVT), with REGN shares rising 3.26% in premarket trading.
February 02, 2024 | 4:08 pm
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NEUTRAL IMPACT
2seventy bio Inc agreed to sell its oncology and autoimmune R&D programs to Regeneron, marking a significant strategic move for both companies.
While the sale of 2seventy bio's assets to Regeneron is a significant strategic move, the short-term impact on TSVT's stock price is uncertain due to the potential for both positive and negative investor interpretations.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Regeneron reported higher than expected Q4 earnings and revenue, with significant sales growth in Dupixent and Libtayo, and shares rose 3.26% in premarket trading.
The positive earnings report and revenue growth, especially from key products like Dupixent and Libtayo, are likely to boost investor confidence in REGN, leading to a short-term positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Sanofi recorded a 31% increase in Dupixent global net sales to $3.22 billion in Q4, indicating strong performance of its partnership with Regeneron.
The significant growth in Dupixent sales, a key product co-developed with Regeneron, highlights the successful partnership between SNY and REGN, potentially leading to a positive short-term impact on SNY's stock.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80