Regeneron Pharmaceuticals Inc (MIL:1REGN)

€ 757 -25.2 (-3.22%) Market Cap: 83.82 Bil Enterprise Value: 77.30 Bil PE Ratio: 20.53 PB Ratio: 3.11 GF Score: 79/100

Q3 2024 Regeneron Pharmaceuticals Inc Earnings Call Transcript

Oct 31, 2024 / 12:30PM GMT

Transcript 10-Q8-K

Key Points

Positve

Regeneron Pharmaceuticals Inc (REGN) reported an 11% increase in total revenues for the third quarter of 2024, reaching $3.72 billion.
DUPIXENT achieved global revenues of $3.8 billion, marking a 24% increase on a constant currency basis, with over 1 million patients currently on treatment.
EYLEA HD and EYLEA combined net product sales were $1.54 billion, with EYLEA HD showing a 29% sequential growth in the quarter.
The company is advancing a robust pipeline with approximately 40 programs in clinical development, spanning various therapeutic areas.
Regeneron Pharmaceuticals Inc (REGN) has a strong balance sheet with approximately $15.6 billion in cash and marketable securities less debt, and generated $2.6 billion in free cash flow through the first nine months of 2024.

Negative

EYLEA HD and EYLEA net sales were impacted by inventory fluctuations, with a $40 million favorable impact in the third quarter expected to negatively affect fourth-quarter sales.
The anti-VEGF category, including EYLEA, faces significant pricing pressure due to competition from branded and biosimilar products.
Regeneron Pharmaceuticals Inc (REGN) anticipates ongoing competitive challenges in the anti-VEGF category, including the entry of biosimilars.
The company faces potential erosion of market share for EYLEA due to the launch of biosimilars, although the impact is yet to be fully determined.
Regeneron Pharmaceuticals Inc (REGN) has not provided specific guidance on the conversion rate from EYLEA to EYLEA HD, indicating uncertainty in market dynamics.

Operator

Good morning, and welcome to the Regeneron Pharmaceuticals third-quarter 2024 earnings conference call. My name is Shannon, and I will be your operator for today's call. (Operator Instructions)

Please note that this conference call is being recorded. I will now turn the call over to Ryan Crowe, Senior President, Investor Relations. You may begin.

Ryan Crowe

Regeneron Pharmaceuticals Inc - Senior Vice President of IR & Strategic Analysis

Thank you, Shannon. Good morning, good afternoon and good evening to everyone listening around the world. Thank you for your interest in Regeneron and welcome to our third-quarter 2024 earnings conference call. An archive and transcript of this call will be available on the Regeneron Investor Relations website shortly after the call ends.

Joining me on today's call are Dr. Leonard Schleifer, Board Co-Chair Founder, President and Chief Executive Officer; Dr. George Yancopoulos, Board Co-Chair, Co-Founder, President and Chief Scientific Officer; Marion McCourt, Executive Vice President of Commercial; and

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