Regeneron Corporate Presentation A U G U S T 2 0 2 5 This non-promotional presentation contains investigational data as well as forward-looking statements; actual results may vary materially. Note regarding forward-looking statements and non-GAAP financial measures This presentation includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. ("Regeneron" or the "Company"), and actual events or results may di ...

财务表现 - 2025年第二季度总收入达36.76亿美元，同比增长4% [3][12] - GAAP净利润13.92亿美元，同比下降3%，非GAAP净利润14.24亿美元，同比增长5% [3] - GAAP稀释每股收益12.81美元，增长3%，非GAAP稀释每股收益12.89美元，增长12% [3] - 研发费用14.22亿美元，同比增长19%，销售管理费用6.34亿美元，同比下降16% [19] 产品表现 - Dupixent全球净销售额达43.4亿美元，同比增长22% [5][15] - EYLEA HD美国净销售额3.93亿美元，同比增长29%，但EYLEA系列美国总销售额下降25%至11.47亿美元 [5][12] - Libtayo全球销售额3.77亿美元，同比增长27% [12] - 公司拥有约45个临床开发阶段的产品候选物 [4] 研发进展 - FDA批准Lynozyfic用于复发或难治性多发性骨髓瘤 [5][10] - FDA批准Dupixent新增大疱性类天疱疮和慢性自发性荨麻疹两个适应症 [5][6] - 肥胖症治疗药物COURAGE试验显示35%的体重减轻来自瘦体重减少 [10] - 获得GLP-1/GIP双受体激动剂的后期开发权利 [11] 监管与商业发展 - 欧洲委员会批准EYLEA 8mg用于wAMD和DME，给药间隔延长至6个月 [10] - 与翰森制药达成许可协议，获得HS-20094在中国大陆以外地区的开发和商业化权利 [9] - 预计EYLEA HD的FDA审批将延迟，涉及Catalent Indiana LLC生产基地检查问题 [10] - 投入超过70亿美元用于美国制造投资、资本支出和业务发展 [3] 资本运作 - 第二季度通过股票回购和股息向股东返还23亿美元资本 [3] - 截至2025年6月30日，仍有28.14亿美元可用于股票回购 [23] - 宣布每股0.88美元的现金股息，将于2025年9月支付 [24] - 现金及有价证券余额为175.28亿美元 [38]

Sanofi (SNY) Q2 2025 Earnings Call July 31, 2025 08:30 AM ET Company ParticipantsThomas Kudsk Larsen - Head - IRPaul Hudson - CEO & DirectorFrançois Roger - EVP & CFOHouman Ashrafian - EVP & Head - Research & DevelopmentLuisa Hector - Head of Global Pharma Equity ResearchRichard Vosser - Managing DirectorBrian Foard - EVP & Head of Specialty CareMatthew Weston - MD - Pharmaceutical ResearchShirley Chen - VP - European Pharmaceuticals Equity ResearchThomas Triomphe - Executive Vice President of VaccinesSachi ...

Sanofi (SNY) Q2 2025 Earnings Call July 31, 2025 08:30 AM ET Speaker0Hello, everyone. This is Thomas Busladen from the Sanofi IR team. Welcome to the Q2 twenty twenty five Conference Call for Investors and Analysts. As usual, you can find the slides on sanofi.com. Please turn to Slide number three.Here we have the usual forward looking statements. We would like to remind you that information presented in this call contains forward looking statements, which are subject to substantial risks and uncertainties ...

Business Finance Pipeline Appendices Business Finance Pipeline Appendices Results Q2 2025 July 31, 2025 Abbreviations used in the main presentation are defined in the list of abbreviations. In the appendices, abbreviations are written in full the first time used. 3 Investor Relations Business Finance Pipeline Appendices Forward-looking statements This document contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are st ...

Q2: double-digit sales and solid business EPS growth. 2025 sales guidance is now high single-digit growth, at upper end of range Paris, July 31, 2025 Q2 sales growth of 10.1% at CER1 and business EPS2 of €1.59 Pharma launches increased sales by 39.8%, reaching €0.9 billion, driven by ALTUVIIIO Dupixent sales increased by 21.1% to €3.8 billion, supported by the COPD launch Vaccines sales increased by 10.3% to €1.2 billion Research and Development expenses were €1.9 billion, up 17.7% Selling, general and adm ...

getty Brand new dividends are often the best divvies to buy. Here why.Companies typically initiate a new payout when they are serious about it. This means not only is management going to make sure the dividend is adequately funded, but they are also likely to raise it in a year.Perennial raises command our attention because these growing payouts tend to pull their stock prices higher. This is the “Dividend Magnet” phenomenon we often discuss and highlight in my Hidden Yields research advisory. The most lucr ...

恒瑞医药与GSK合作 - 恒瑞医药与葛兰素史克达成协议共同开发至多12款创新药物涵盖呼吸自免和炎症肿瘤治疗领域 [1] - GSK将支付5亿美元首付款并获得HRS-9821及最多11个项目的全球独家权利（除中国大陆港澳台） [1] - 若所有项目均实现里程碑恒瑞医药潜在总收益约120亿美元（约860亿元人民币）并可收取销售提成 [1] - HRS-9821为PDE3/4抑制剂用于治疗慢阻肺病已获NMPA批准开展临床试验 [1] - 合作模式为恒瑞主导研发至I期临床GSK拥有后续开发和商业化选择权 [6] 慢阻肺病治疗领域动态 - 全球慢阻肺病患者超3.9亿中国患者约1亿40岁及以上人群患病率13.7%年死亡约100万人 [4] - 默沙东以100亿美元收购Verona Pharma获得全球首个PDE3/4双重抑制剂Ohtuvayre [4] - Ohtuvayre为近20年首个慢阻肺病突破性疗法5分钟起效无需生物标志物检测 [5] - 生物制剂如Dupixent和Nucala在特定患者亚群中取得突破但再生元itepekimab三期临床失败 [5] - 慢阻肺病治疗从传统红海转向蓝海特质 [3] 创新药行业趋势 - 肿瘤领域同质化严重2025年上半年全球肿瘤研发管线相似靶点药物占比超60%PD-1/L1抑制剂临床试验超5000项 [2] - 跨国药企面临专利悬崖2023-2028年风险敞口达3540亿美元占2022年全球医药市场32% [9] - 中国创新药BD交易2025年上半年超50项总金额480亿美元其中18项超10亿美元 [10] - 恒瑞与GSK合作标志国际化战略飞跃建立多管线平台式合作模式 [7] - 跨国药企加速对外合作中国创新药企议价能力提升 [10] 跨国药企战略调整 - GSK将呼吸系统疾病作为战略重点2023年收购Bellus Health获候选药物camlipixant [8] - 默沙东PD-1疗法可瑞达2024年销售额294.82亿美元但2028年专利到期 [8] - 专利到期后仿制药竞争导致原研药销售额第一年下降37%第二年下降60%以上 [9] - 跨国药企通过License-out及NewCo模式快速补充管线 [10]

核心观点 - 华尔街可能低估了诺和诺德和再生元制药的增长潜力，尽管两家公司今年股价表现不佳，但长期投资价值显著 [1][2] - 标普500指数年初至今上涨约8%，但诺和诺德和再生元制药分别下跌18%和19%，大幅跑输大盘 [1][5][10] 诺和诺德 (Novo Nordisk) - 公司面临临床挫折和财务表现未达市场高预期的挑战，导致年初至今股价下跌18% [4][5] - 糖尿病和体重管理领域研发管线强劲，近期启动下一代GLP-1药物amycretin的III期临床试验（皮下注射和口服剂型） [6] - 口服版司美格鲁肽（Wegovy/Ozempic）已向美国申请监管批准，并通过许可协议扩大体重管理管线，未来几年将推出至少一款新药 [7] - Ozempic和Wegovy持续推动收入增长，当前16.9倍远期市盈率与行业平均16.5倍相当，但公司收入/利润增速通常快于同行，估值具吸引力 [8][9] 再生元制药 (Regeneron Pharmaceuticals) - 核心产品Eylea面临生物类似药竞争导致收入下滑，股价年初至今下跌19% [10] - 高剂量版Eylea（HD）正抢占原版市场份额，未来标签扩展将加速增长 [11] - 管线深度突出：本月获批抗癌药Lynozyfic，基因疗法（遗传性耳聋）临床试验表现优异，有望突破Eylea依赖 [12] - 王牌产品Dupixent（湿疹治疗）表现亮眼，近年获批慢性阻塞性肺病（COPD）和大疱性类天疱疮等新适应症，增长势头持续 [13] - 公司启动股息支付并实施股票回购计划，长期持有（5年以上）有望获得超额回报 [14]

Key Takeaways REGN will report Q2 results on Aug. 1, with EPS and revenue estimates at $8.15 and $3.31B, respectively.Higher Dupixent profits and strong Eylea HD uptake may offset legacy Eylea sales pressure.New approvals for Dupixent and Lynozyfic expand Regeneron's pipeline. Investors will focus on profits from asthma drug Dupixent and sales of Eylea HD when biotech giant Regeneron Pharmaceuticals, Inc. ((REGN) reports second-quarter 2025 results on Aug. 1, 2025.The Zacks Consensus Estimate for revenues i ...