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Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN ) on Monday reported a decline in fourth-quarter earnings and adjusted earnings.
Total revenue fell 31% year over year to $3.41 billion in the three months ending December 2022. However, excluding REGEN-COV and Ronapreve, revenue increased 14%.
The biotech company’s fourth quarter adjusted earnings nearly halved to $12.56 per share from $23.42 per share in the same period in 2021. Unadjusted profit was $1.20 billion or $10.50 per share, compared $2.23 billion or $19.69 per share last year.
“In 2023, we remain committed to achieving the full potential of our commercial and clinical stage portfolio, with a special focus on aflibercept 8 mg, Dupixent in various type 2 allergic diseases, and promising oncology and hematology assets,” said company CEO Leonard Schleifer.
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