Regeneron sees about $1.5B in Q4 U.S. net product sales of Eylea

In a regulatory filing earlier, Regeneron Pharmaceuticals disclosed that President and CEO Leonard Schleifer, M.D., Ph.D., and Chief Scientific Officer George Yancopoulos are providing a corporate update on January 9 at the 41st Annual J.P. Morgan Healthcare Conference. The presentation includes information regarding the company’s preliminary, unaudited U.S. net product sales of Eylea Injection of approximately $6.26B for the full year 2022 based on preliminary, unaudited fourth quarter 2022 U.S. net product sales of Eylea of approximately $1.5B. "With respect to the preliminary (unaudited) fourth quarter 2022 U.S. net product sales of Eylea, the presentation further notes the following: Negatively impacted by a short-term shift to off-label use of compounded Avastin; Temporary closing in Q4 2022 of fund that provides patient co-pay assistance; Most recent Q4 2022 market data suggests that shift to off-label Avastin is already beginning to reverse," the filing stated. The presentation also includes information regarding the company’s current expectation that its financial results calculated in accordance with U.S. generally accepted accounting principles and its non-GAAP financial results for the fourth quarter 2022 and full year 2022 will include an acquired in-process research and development charge of approximately $30M relating to an up-front payment in connection with the company’s previously announced collaboration and licensing agreement with CytomX Therapeutics, Inc. This acquired IPR&D charge is expected to negatively impact each of GAAP and non-GAAP net income per diluted share for the fourth quarter 2022 by approximately 21c. "Regeneron’s results for the fourth quarter and full year 2022 have not been finalized and are subject to Regeneron’s financial statement closing procedures," the filing stated.