Regeneron Pharmaceuticals Inc (NASDAQ:REGN) stock rose 2.13% (As on February 5, 11:22:21 AM UTC-4, Source: Google Finance) after the company topped Wall Street’s December-quarter calls on the back of its cancer drug Libtayo. The company also announced a dividend for the first time. Regeneron Pharmaceuticals (REGN) will pay 88 cents per quarter, or $3.52 a year. Regeneron had preannounced $1.19 billion in U.S. sales of eye drug Eylea. The high dose version of Eylea brought in $305 million in U.S. sales. Regeneron’s partner, Bayer (BAYRY), records international Eylea sales. Fourth quarter 2024 Libtayo global net sales increased 50% to $367 million versus fourth quarter 2023. Regeneron has approximately 40 product candidates in clinical development, including a number of marketed products for which it is investigating additional indications.
Meanwhile, the Company announced that the primary endpoint was met in the Phase 3 QUASAR trial investigating EYLEA HD for the treatment of patients with macular edema following RVO, including those with central, branch, and hemiretinal vein occlusions. In November 2024, the European Commission (EC) approved Dupixent to treat eosinophilic esophagitis (EoE) in children aged 1 to 11 years, making Dupixent the first and only medicine indicated to treat these young patients.
REGN in the fourth quarter of FY 24 has reported the adjusted earnings per share of $12.07, beating the analysts’ estimates for the adjusted earnings per share of $11.62. The company had reported the adjusted revenue growth of 10 percent to $3.79 billion in the fourth quarter of FY 24, which met the analysts’ estimates for revenue of $3.79 billion.
Additionally, the company has authorized an additional $3.0 billion share repurchase program, bringing the total current capacity to approximately $4.5 billion. Repurchases may be made from time to time at management’s discretion through a variety of methods. The program has no time limit and can be discontinued at any time.
In January 2025, the Company entered into an agreement with Truveta Inc. pursuant to which the Company will sequence exomes and conduct genotyping and imputation of up to ten million de-identified consented volunteers using biospecimens provided by Truveta health system members across the United States. The Company has announced its inclusion on the Dow Jones Sustainability World Index (DJSI World) for the sixth consecutive year, as well as its fifth consecutive inclusion on the Dow Jones Sustainability North America Index (DJSI North America).