Regeneron's Second-Quarter Revenue Rises 21 Percent on Higher Eylea Sales
Regeneron Pharmaceuticals announced that revenue for the second quarter jumped 21 percent to $1.5 billion, beating analyst estimates of $1.4 billion, fuelled by 11-percent growth in Eylea sales in the US of $919 million. Meanwhile, the company's net profit nearly doubled to $388 million.
Regeneron also noted that its quarterly performance was boosted by greater-than-expected collaboration revenue from Bayer and Sanofi. Specifically, revenue from its share of Eylea sales outside the US, where the therapy is marketed by Bayer, reached $191 million, up from $167 million in the year-ago period. Additionally, the drugmaker indicated that quarterly sales of Praluent, which is partnered with Sanofi, totalled $46 million, compared to $24 million in the second quarter of 2016.
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