Regeneron reports Q1 sales of $3,145 million, down 1% on the same period a year earlier.
The US biotech company reported adjusted net income (non-GAAP) of $1116 million, down 4%.
' While investing in innovation remains our top capital allocation priority, the recent authorization by Regeneron's Board of Directors of a new $3 billion share repurchase program provides us with additional flexibility to continue returning capital to shareholders over time', said Christopher Fenimore, Regeneron's Senior Vice President Finance and CFO.
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Regeneron Pharmaceuticals, Inc. specializes in research, development, producing, and selling drugs used in treating ophthalmologic and inflammatory diseases and cancers. Net sales break down by type of revenue as follows:
- revenues from product sales (56.6%);
- revenues from collaboration agreements (40.4%): collaboration with Sanofi (58.1% of revenues), Bayer (29.1%) and Roche (12.8%);
- other (3%): primarily revenues from sales of technology licenses and subcontracted research services.
At the end of 2022, the group had a portfolio of approximately 35 products in clinical development.