Summary by Moomoo AI
Regeneron Pharmaceuticals reported robust Q2 2024 financial results, with total revenues increasing 12% to $3.55 billion and net income rising 48% to $1.43 billion. The growth was driven by strong performance of key products, with U.S. EYLEA HD and EYLEA combined net sales reaching $1.53 billion, while global Dupixent sales grew 27% to $3.56 billion.Research and development expenses rose 11% to $1.2 billion as the company advanced multiple clinical programs. The company maintained a strong balance sheet with $17.5 billion in cash and marketable securities as of June 30, 2024. Operating expenses increased 16% to $2.48 billion, reflecting investments in commercial capabilities and product launches.Looking ahead, Regeneron faces both opportunities and challenges, including potential biosimilar competition for EYLEA following U.S. regulatory exclusivity expiration in May 2024. The company continues to advance its pipeline with multiple late-stage clinical trials while expanding its commercial presence globally, particularly for products like Libtayo and Dupixent.
