By Kimberly Chin

Regeneron Pharmaceuticals Inc. (REGN) posted a 53% profit in the third quarter as it made breakthroughs in several of its treatments.

The company reported net income of $594.7 million, or $5.17 a share, compared with $388.3 million, or $3.32 a share, a year earlier. Analysts polled by Refinitiv were expecting $4.44 a share.

On an adjusted basis, Regeneron posted earnings of $5.87 a share, topping the $5.13 a share expected by analysts.

Regeneron said revenue rose 11% to $1.66 billion, driven in part by 7% growth in sales of its Eylea chemotherapy treatment.

For the year, Regeneron lowered its expectations of sales from its Sanofi collaboration to a range of $430 million to $455 million, from $455 million to $485 million as previously targeted.

Write to Kimberly Chin at kimberly.chin@wsj.com

(END) Dow Jones Newswires

November 06, 2018 07:27 ET (12:27 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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