Regeneron Pharmaceuticals Targets Quality Weight Loss In Latest Obesity Innovation
Portfolio Pulse from Vandana Singh
Regeneron Pharmaceuticals Inc (NASDAQ:REGN) reported a Q1 adjusted EPS of $9.55, down 5% Y/Y, missing consensus estimates. Sales were $3.15 billion, below the expected $3.22 billion. Eylea US sales dropped 16% to $1.2 billion due to market dynamics. However, Dupixent sales, recorded by Sanofi SA (NASDAQ:SNY), rose 24.9% to 2.84 billion euros. Regeneron's oncology treatment Libtayo sales increased by 49% to $264 million. The company is also advancing in obesity treatment, with promising results from combining semaglutide with trevogrumab and garetosmab in non-human primates. Over 400 subjects have been dosed with trevogrumab without significant safety concerns. Part B of the study on muscle preservation in obese participants is set to start midyear, with results expected in the second half of 2025. REGN shares rose 3.5% to $935.20.
May 02, 2024 | 7:49 pm
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POSITIVE IMPACT
Regeneron's Q1 earnings missed estimates with a decline in Eylea sales, but growth in Dupixent and Libtayo sales, and promising obesity treatment developments could influence its stock.
Despite missing Q1 earnings and sales estimates, Regeneron's stock rose due to strong Dupixent sales, recorded by Sanofi, and significant growth in Libtayo sales. The promising developments in obesity treatment, particularly with trevogrumab, also contribute positively to investor sentiment, offsetting the negative impact of declining Eylea sales.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Sanofi SA records a 24.9% increase in Dupixent sales to 2.84 billion euros, contributing to Regeneron's revenue from their collaboration.
Sanofi's significant increase in Dupixent sales not only reflects positively on its own financial performance but also benefits Regeneron through increased collaboration revenue. This growth is likely to be viewed positively by investors, potentially impacting Sanofi's stock positively in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70