Regeneron Posts Higher Profits Led By Treatment Advances
November 06 2018 - 6:42AM
Dow Jones News
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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