Regeneron Lowers Capital Expenditure Guidance, Changes Other Outlook Measures

Date : 08/06/2019 @ 12:13PM
Source : Dow Jones News
Stock : Regeneron Pharmaceuticals Inc (REGN)
Quote : 344.87  0.0 (0.00%) @ 9:00AM

Regeneron Lowers Capital Expenditure Guidance, Changes Other Outlook Measures

Regeneron Pharmaceuticals (NASDAQ:REGN)
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   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.

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