Regeneron Pharmaceuticals, Inc.

And welcome to the Regeneron Pharmaceuticals third quarter 2020 earnings call. At this time, all participants are in listen only mode. After the speaker's presentation, there will be a question and answer session. Instructions will follow at that time. If anyone should require assistance during the conference, you can press star zero. I would now like to hand the conference over to your speaker, Justin Holcomb. Please go ahead, sir.

Thank you, Debra. Good morning, good afternoon, and good evening to everyone listening around the globe. Thank you for your interest in Regeneron Pharmaceuticals, and welcome to the third quarter 2020 conference call. An archive of this webcast will be available on our website. Joining me on the call today are Dr. Leonard Schleifer, founder, president, and chief executive officer, Dr. George Yancopoulos, co-founder, president, and chief scientific officer, Marion McCourt, Senior Vice President and Head of Commercial, and Bob Landry, Executive Vice President and Chief Financial Officer. After our prepared remarks, we will open the call for Q&A. I would also like to remind you that remarks made on today's call include forward-looking statements about Regeneron. Such statements may include, but are not limited to, those related to Regeneron and its products and business, financial forecasts and guidance. development programs and related anticipated milestones, collaborations, finances, regulatory matters, payer coverage, and reimbursement issues, as well as intellectual property, pending litigation, other proceedings, and competition. Each forward-looking statement is subject to risks and uncertainties that could cause actual results and events to differ materially from those projected in that statement. A more complete description of these and other material risks can be found in Regeneron's filings with the United States Securities and Exchange Commission, including its Form 10Q for the quarterly period ended September 30, 2020, which has been filed with the SEC today. Regeneron does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise. In addition, please note that GAAP and non-GAAP measures will be discussed in today's call. Information regarding our use of non-GAAP financial measures and a reconciliation of those measures to GAAP is available in our financial results press release, which can be accessed on our website. Once our call concludes, Bob Landry and the IR team will be available to answer further questions. With that, let me turn the call over to our President and Chief Executive Officer, Dr. Lenschleifer.

Thank you, Justin, and thanks to everyone joining today's call. In the third quarter, we turned around and delivered another strong financial performance of double-digit top and bottom line growth while achieving numerous milestones in our research and development pipeline and making remarkable progress against COVID-19 with our novel antibody cocktail. Importantly, our growth and financial strength is being fueled by an increasingly diversified set of revenue and earnings streams while we invest in R&D for the long term. Furthermore, our results show the importance of products that meaningfully address serious medical needs and have the power to transform lives even during a pandemic. ILEA is a great example. ILEA global net sales were $2.1 billion in the quarter and grew 9% compared to the same period last year. In the U.S., sales rebounded from second quarter COVID lows to 1.3 billion and grew 11% versus prior year. The efficacy, safety, and convenience that Aaliyah offers in protecting eyesight had proven to be highly valued by treating physicians and their patients as the product again outperformed the anti-VEGF market for retinal diseases. Next, we continue to build momentum with Dupixit as we in Sanofi recorded our first ever quarter of more than $1 billion in sales. This milestone speaks to the power of Dupixent across a broad array of type 2 inflammatory diseases and to our team's ability to execute despite COVID-19. Adding to this momentum, we recently announced results from another successful phase 3 trial, this time in pediatric asthma. We are eager to submit these data for regulatory review and expect that the PIXEN will remain a robust and durable growth driver for years to come. In oncology, we are solidifying our leadership position in cutaneous squamous cell carcinoma. Additionally, the FDA has granted priority review for our regulatory filings in lung cancer and basal cell carcinoma as we prepare for potential launches of these indications early next year. Regeneron is also making critical advancements in the treatment of infectious diseases. Last month, the FDA improved Inrizeb, the first-ever treatment for Ebola virus infection. Building upon our work in Ebola, our team and rapid response technologies have developed our novel REGN-CoV-2 antibody cocktail in the fight against COVID-19. Last week, we announced another major dataset from our outpatient study that showed our antibody cocktail significantly reduced viral loads as well as medically attended visits, such as emergency room visits and hospitalizations. We have submitted these data to regulators and eagerly await guidance on next steps. In closing, we could not be prouder of our teams and everything they have been able to achieve across the organization in the third quarter, and in 2020 to date. Our momentum is accelerating with an impressive growth profile. In 2021, we look forward to building upon that momentum with several important launches for the entire of Dupixent and other programs, further enhancing our diverse growth platform. We are excited by the progress we are making against COVID-19, and we are confident that our investments in R&D to broaden and advance our pipelines across all stages will position Regeneron well for sustained growth. Now, I'll turn the call over to George.