Regeneron 1Q Profit, Sales Beat Forecasts
05 May 2020 - 9:37PM
Dow Jones News
By Dieter Holger
Regeneron Pharmaceuticals Inc. posted profit and sales in its
latest quarter that rose above analysts' expectations.
The Eastview, N.Y.-based drugmaker reported earnings of $624.6
million, or $5.43 a share, in the first quarter, compared with
$461.1 million, or $3.99 a year ago. Adjusted earnings were $6.60 a
share.
Analysts had forecasted adjusted earnings of $5.25 a share.
Sales were $1.83 billion in the quarter, up from $1.37 billion a
year ago. Analysts had expected $1.76 billion.
Demand for Regeneron's drugs Eylea, Dupixent and Libtayo drove
growth for the company in the latest quarter despite the
coronavirus pandemic, said Leonard Schleifer, president and chief
executive officer of Regeneron.
Later this year, Regeneron aims to submit Libtayo for regulatory
approval to treat non-small cell lung cancer and basal cell
carcinoma treatment, Mr. Schleifer said.
Write to Dieter Holger at dieter.holger@wsj.com;
@dieterholger
(END) Dow Jones Newswires
May 05, 2020 07:22 ET (11:22 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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