Regeneron reports $2.11 billion in year-end revenue
For the fourth quarter ending Dec. 31, 2013, Regeneron has reported $610 million in revenue, which represents a 47% increase over the prior year’s period, and brings the total year-end revenue to $2.11 billion for 2013, which is a 53% increase over total year-end revenue for 2012, according to a company press release.
This growth was primarily attributed to Eylea sales, which amounted to $402 million in the U.S. alone for the fourth quarter, a 46% increase over the same period last year, and $1.41 billion in U.S. sales for the full year, as compared to $838 million for the full year prior, according to the release.
Non-GAAP net income was $259 million for the fourth quarter of 2013, compared to $171 million in the fourth quarter of 2012. For the full year, non-GAAP net income was $935 million, compared to $530 million for the full year 2012.
Regeneron reported GAAP net income of $97 million, or $0.98 per basic share and $0.86 per diluted share, in the fourth quarter of 2013, compared to $470 million ($4.92 per basic share, $4.08 per diluted share) in the fourth quarter of 2012.
GAAP net income was $424 million, or $4.33 per basic share and $3.81 per diluted share, for the full year 2013, compared to $750 million ($7.92 per basic share, $6.75 per diluted share) for the full year 2012, the release said.
The decrease in both fourth quarter and full year 2013 GAAP net income resulted primarily from the non-cash tax benefit of $336 million recorded in the fourth quarter of 2012, the company's recognition of an income tax provision commencing in 2013 and higher operating expenses in 2013, according to the release.