TARRYTOWN, N.Y., Feb. 14, 2013 /PRNewswire/ -- Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced financial and operating results for the fourth quarter and full year 2012 and provided an update on development programs.
The Company reported total revenues of $415 million in the fourth quarter and $1.4 billion for the year ended December 31, 2012. Total revenues included EYLEA U.S. net product sales of $276 million in the fourth quarter and $838 million for the full year 2012. Total revenues for the full year included a $50 million milestone payment from Sanofi and $25 million of milestone payments from Bayer HealthCare in connection with regulatory approvals of ZALTRAP® (ziv-aflibercept) Injection for Intravenous Infusion and EYLEA (aflibercept) Injection for Intravitreal Injection, respectively, as described below.
The Company reported non-GAAP net income of $171 million, or $1.47 per diluted share, in the fourth quarter and $530 million, or $4.66 per diluted share, for the year ended December 31, 2012. Non-GAAP net income excludes non-cash share-based compensation expense, non-cash interest expense related to the Company's convertible senior notes, and a non-cash tax benefit of $336 million recorded during the fourth quarter primarily as a result of releasing substantially all of the valuation allowance associated with the Company's deferred tax assets as of December 31, 2012. The Company reported GAAP net income of $470 million, or $4.08 per diluted share, in the fourth quarter and $750 million, or $6.75 per diluted share, for the full year 2012.
"2012 was truly a transformative year for Regeneron as strong U.S. net sales of EYLEA drove our first full year of profitability on a GAAP and non-GAAP basis," said Leonard S. Schleifer, M.D., Ph.D., President and Chief Exec
|SOURCE Regeneron Pharmaceuticals, Inc.|
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