Regeneron Pharmaceuticals (NASDAQ:REGN)
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6 Months : From May 2019 to Nov 2019
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 email@example.com
(END) Dow Jones Newswires
August 06, 2019 07:58 ET (11:58 GMT)
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