Regeneron Lowers Capital Expenditure Guidance, Changes Other Outlook Measures
August 06 2019 - 8:13AM
Dow Jones News
By Allison Prang
Regeneron Pharmaceuticals Inc. (REGN) lowered its guidance for
capital expenditures for the year.
The company said it expects between $380 million and $420
million in capital expenditures. It had been expecting between $410
million and $475 million.
Regeneron expects between almost $1.71 billion and almost $1.79
billion in selling, general and administrative expenses. It had
been expecting between almost $1.7 billion and $1.8 billion.
The company raised the lower end of its adjusted SG&A
expense guidance by $30 million. It is now expecting between $1.53
billion and $1.58 billion in adjusted SG&A expenses.
The company narrowed its guidance for unreimbursed research and
development costs and expects those to be between $2.3 billion and
$2.38 billion. It had been expecting between $2.28 billion and $2.4
billion.
Regeneron also increased the lower end of its estimates for
adjusted unreimbursed research and development costs by $40
million. It now expects those to be between $1.65 billion and $1.71
billion.
Regeneron also lowered the top end of its guidance for what it
is expecting in revenue from its Sanofi (SNY) collaboration by $5
million. It now expects between $500 million and $530 million.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
August 06, 2019 07:58 ET (11:58 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
Regeneron Pharmaceuticals (NASDAQ:REGN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Regeneron Pharmaceuticals (NASDAQ:REGN)
Historical Stock Chart
From Sep 2023 to Sep 2024