BCW Member Regeneron Reports Big Increase in Revenue for 2021
Boosted by its monoclonal antibody cocktail REGEN-COV used to help fight the Covid-19 virus, Tarrytown-based pharmaceutical giant Regeneron reported this week that its revenues for 2021 jumped 89%, reaching $16.07 billion. The company reported net income for the year of $8.075 billion compared with $3.513 billion for 2020. REGEN-COV is credited with bringing in $6.19 billion during 2021.
“In 2021, Regeneron delivered strong results across our core business with impressive EYLEA and Dupixent growth, while also helping address the ongoing pandemic by delivering REGEN-COV to millions of patients,” said Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron.
“For 2022, we remain focused on building on EYLEA’s success, expanding approvals and patient reach for Dupixent, pursuing new indications for Libtayo, and reading out data from our oncology pipeline – all while continuing to progress our diversified earlier-stage pipeline. We also remain committed to our efforts to fight the COVID-19 pandemic and address the significant need for effective treatments and preventative approaches to SARS-CoV-2. Given the lack of efficacy of REGEN-COV against the Omicron variant, we are working hard to develop next generation antibodies that are active against Omicron and all other variants of concern,” said Schleifer.
“In 2021, Regeneron delivered solid top- and bottom-line growth driven by strong execution within our core business,” said Robert E. Landry, Executive Vice President, Finance and Chief Financial Officer of Regeneron. “With growth continuing across our existing portfolio and investments in our R&D engine supported by our strong balance sheet, we are well positioned for sustainable long-term growth.”
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