Regeneron Surpasses Q4 Estimates, Announces Dividend and Stock Buyback
Regeneron Pharmaceuticals (REGN) exceeded expectations for its fourth-quarter financial performance, driven by continued demand for its blockbuster eczema treatment, Dupixent.
Earnings and Sales
Regeneron's total revenue reached $3.79 billion, surpassing analysts' estimates of $3.75 billion. This includes:
* Dupixent sales: $3.7 billion, up 15% year-over-year.
* Eylea sales: $1.5 billion, up 2% year-over-year.
* Libtayo sales: $366.9 million, exceeding estimates of $333.5 million.
Eylea Strategy
Although Eylea remains a significant revenue generator, Regeneron faces competition from biosimilars and rivals like Roche's Vabysmo. The company is shifting towards a high-dose version to maintain market share.
Profitability
Adjusted profits per share came in at $12.07, beating analysts' average estimate of $11.28.
Shareholder Returns
Regeneron declared a cash dividend of 88 cents per share, payable on March 20. Additionally, the company announced a $3 billion share repurchase program, increasing its total current capacity to $4.5 billion.
Implications
Regeneron's strong results and strategic initiatives reinforce its position as a leader in the pharmaceutical industry. The company's continued focus on innovation and shareholder value adds confidence to its long-term growth prospects.