Regeneron reworks Praluent agreements with Sanofi

Regeneron Pharmaceuticals (NASDAQ:REGN) announces that it has restructured its Praluent (alirocumab) agreements with collaboration partner Sanofi (NASDAQ:SNY) that, it says, will increase efficiency and streamline operations.

It will have sole responsibility in the U.S. while Sanofi will have sole responsibility ex-U.S. and will pay REGN a royalty on net sales of the PCSK9 inhibitor.

Also, effective January 1, REGN will no longer record reimbursements from collaborators for R&D and SG&A expenses as revenue. Instead, the monies will be netted against the respective expenses. Q1 revenue and operating expenses will be ~$300M lower than under the previous accounting treatment.

Management will release Q1 results on Tuesday, May 5, before the open

https://seekingalpha.com/news/3558806-regeneron-reworks-praluent-agreements-sanofi