Regeneron Lowers Capital Expenditure Guidance, Changes Other Outlook Measures

   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)

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