Regeneron Pharmaceuticals has announced financial results for the fourth quarter and full year 2016 and provided a business update.
Financial Highlights
($ in millions, except per share data)
Three Months Ended
December 31,
Year Ended
December 31,
2016
2015*
% Change
2016
2015*
% Change
EYLEA U.S. net product sales
$
858
$
746
15
%
$
3,323
$
2,676
24
%
Total revenues
$
1,227
$
1,098
12
%
$
4,860
$
4,104
18
%
GAAP net income
$
253
$
155
63
%
$
896
$
636
41
%
GAAP net income per share - diluted
$
2.19
$
1.34
63
%
$
7.70
$
5.52
39
%
Non-GAAP net income(2)
$
353
$
258
37
%
$
1,319
$
944
40
%
Non-GAAP net income per share -
diluted(2)
$
3.04
$
2.23
36
%
$
11.32
$
8.12
39
%
* See Table 3 of this press release for an explanation of revisions made to 2015 non-GAAP amounts previously reported.
"The hard work of our scientists over the last decades has brought Regeneron to the next phase of our evolution - this year we anticipate launching two additional important therapies, significantly expanding our impact for patients with serious diseases and our company's growth potential," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron. "In March, we look forward to the potential U.S. approval of Dupixent, our innovative and breakthrough IL4/13 blocking antibody, in adults with atopic dermatitis. We believe Dupixent may have the potential to help additional patients with serious allergic diseases, with pivotal Phase 3 data in adult asthma patients expected later this year. We are also studying Dupixent in patients with nasal polyps and pediatric patients with asthma or atopic dermatitis."
Business Highlights
Marketed Product Update
EYLEA® (aflibercept) Injection for Intravitreal Injection
In the fourth quarter of 2016, net sales of EYLEA in the United States increased 15% to $858 million from $746 million in the fourth quarter of 2015. For the full year of 2016, net sales of EYLEA in the United States increased 24% to $3.323 billion from $2.676 billion for the full year 2015. Overall distributor inventory levels remained within the Company's one- to two-week targeted range.
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