Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) reported stronger-than-expected second-quarter results, comfortably surpassing Wall Street forecasts for both earnings and revenue.
The company’s performance was driven by continued momentum across its commercial portfolio, led by strong growth in Dupixent, helping lift its shares more than 3% in premarket trading on Thursday
The biotechnology company also updated its full-year financial guidance following the quarter. Earnings and Revenue Outperform Forecasts Regeneron posted adjusted earnings of $14.29 per share for the second quarter, exceeding analysts’ consensus estimate of $10.58. Revenue totaled $4.29 billion, ahead of the expected $3.8 billion and up 17% from $3.68 billion in the same quarter last year.
Growth was supported by strong sales across several of the company’s leading therapies. Global Dupixent net sales, reported by Sanofi, increased 38% year over year to $6.0 billion. In the United States, EYLEA HD generated net sales of $596 million, representing a 52% increase, while global sales of Libtayo climbed 30% to $489 million.