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Business in the Burbs

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Regeneron reports a smaller 2Q loss

August
4

Regeneron Pharmaceuticals Inc., a Tarrytown-based biotech company, reported a smaller second-quarter loss and increased revenues after it increased shipments of a new drug.

The net loss of $14.9 million, or 19 cents a share, during the second quarter compared with a net loss of $18.7 million, or 24 cents a share, a year earlier. Revenues increased to $90 million in the second quarter from $60.7 million a year earlier.

Arcalyst, Regeneron’s only marketable drug, was approved last year for treatment of a rare auto-inflammatory condition known as CAPS. The company said that shipments of Arcalyst rose to $5.4 million during the quarter, up from $1.6 million a year earlier.

The company, hoping to find new markets for the drug, is continuing a clinical development program that is evaluating Arcalyst as a potential treatment for gout. Regeneron projects U.S. shipments of Arcalyst could reach $15 million to $20 million in 2009. In other development programs, Regeneron has a partenership with Bayer HealthCare AG to develop another medication, VEGF Trap-Eye, as a treatment for various eye diseases.

This entry was posted on Tuesday, August 4th, 2009 at 1:15 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
Category: Earnings

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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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