Regeneron reports net income for Q3, provides guidance for 2012

Regeneron Pharmaceuticals, Inc., a biopharmaceutical company, has reported that net income for the third quarter ended September 30, 2012 was $191.47 million, or $1.72 per diluted share, compared to a net loss of $62.36 million, or $0.68 loss per diluted share, for the same quarter ended September 30, 2011. Full year 2012 EYLEA US sales forecast increased from $700 to $750 million to $790 to $815 million.

Revenues for the third quarter of 2012 were $427.69 million, compared to $102.83 million for the same quarter of 2011.

Net income for the nine months ended September 30, 2012 was $279.86 million, or $2.55 per diluted share, compared to a net loss of $168.32 million, or $1.87 loss per diluted share, for the same period ended September 30, 2011.

Revenues for the nine months ended September 30, 2012 were $963.87 million, compared to $322.85 million for the same period ended September 30, 2011.

"The EYLEA launch continues to progress well and is driving strong sales and earnings growth. We now forecast 2012 US EYLEA net product sales of $790 to $815 million," said Leonard Schleifer, president and CEO of Regeneron. "With the recent approval of EYLEA in the US for the treatment of macular edema following central retinal vein occlusion (CRVO), and the anticipated launch beginning by the end of this year in Japan, Australia, and Europe, we expect EYLEA to continue to drive growth through 2013 and beyond. In addition, we and Sanofi have announced the roll-out of our broad Phase III ODYSSEY program for REGN727, our cholesterol-lowering PCSK9 antibody, and the Phase III program for sarilumab, our IL-6 receptor antibody, in rheumatoid arthritis."