Regeneron Pharmaceuticals stock falls as Eylea sales trail estimates for Q1 are lower than expected

Key Takeaways

• Regeneron Pharmaceuticals stock was among the biggest S&P 500 and Nasdaq decliners Tuesday after the biotech firm reported first-quarter sales—especially those of its key Eylea eye disease drug—that missed analysts' estimates by a wide margin.
• Regeneron’s shares were down almost 9% in the afternoon trading. They have lost more than half their value this year.
• Tarrytown, N.Y.-based Regeneron also said that its plan to make its commercial bulk drug product at Fujifilm's North Carolina campus will double its U.S. manufacturing capacity.

Regeneron Pharmaceuticals (REGN) stock was among the biggest S&P 500 and Nasdaq decliners Tuesday after the biotech firm reported first-quarter sales—especially those of its key Eylea eye disease drug—that missed analysts’ estimates by a wide margin.

Eylea can be used to treat diseases like neovascular or “wet” age-related macular disease, macular edema and diabetic retinal degeneration. Regeneron shares dropped nearly 9% on the afternoon market and have lost a fifth in value this year.

Visible Alpha polled analysts and the company reported that total Eylea U.S. sales were $1,04 billion. This is well below the $1.16 million consensus estimate. Its total revenues also fell short of expectations, with a 4% drop year-over-year to $3.03bn versus $3.23bn expected.

Regeneron’s adjusted earning per share of $8.22 was a penny higher than the projections.

Regeneron has joined the list of large American firms that have announced plans for a boost in production in the United States since President Donald Trump’s return to office. The Tarrytown (N.Y.)-based company said Tuesday that its deal announced last Thursday to make and provide its commercial bulk drug at the North Carolina campus for Japan’s Fujifilm “anticipates to nearly double the Company’s large-scale production capacity in the United States.”