Regeneron more than doubles Q4 revenue powered by sales for COVID-19 antibody
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Regeneron Pharmaceuticals (NASDAQ:REGN) is trading higher in the pre-market on Friday after the companyâs Q4 2021 financials exceeded expectations. Revenue for the quarter climbed ~104% YoY to ~$5.0B as net sales from COVID-19 antibody cocktail REGEN-COV reached ~$2.9B globally.
However, the growth in blockbuster wet AMD medication Eylea slowed to ~13% from ~33% YoY growth in the second quarter. Eylea netted ~$2.5B sales in Q4 2021, while net sales for Libtayo and atopic dermatitis drug, Dupixent, reached ~$121M and ~$1.8B, recording ~24% YoY and ~51% YoY, respectively. Total net product sales for the quarter climbed ~145% YoY to $4.0B, and revenue excluding REGEN-COV grew ~17% YoY.
For the quarter, the collaboration revenue added ~31% YoY to reach ~$890.3M, and non-GAAP net income stood at ~$2.7B with ~151% YoY growth. Regeneron (REGN) projects its gross margin on net product sales to reach 90%â92% in 2022.

Bearish sentiment on Regeneron (REGN) has increased among Wall Street analysts over the past six months, as shown here.