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4-Traders Homepage  >  Equities  >  Nasdaq  >  Regeneron Pharmaceuticals Inc    REGN

Delayed Quote. Delayed  - 05/04 09:59:57 pm
360.64 USD   -2.88%
02:16pDJRegeneron Raises Sales Expectations for Eylea
02:04pDJREGENERON PHARM : Raises Sales Expectations for Eylea
12:44p REGENERON PHARM : beats 1Q profit forecasts
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Regeneron Raises Sales Expectations for Eylea

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05/05/2016 | 02:16pm CEST

Regeneron Pharmaceuticals Inc. on Thursday said revenue increased a better-than-expected 38% in its first quarter as sales continued to surge for its key eye-disease treatment.

U.S. sales of the drug, Eylea, jumped 44% to $481 million compared with the prior-year quarter. Regeneron said it expects U.S. sales of Eylea to grow between 20% to 25% for the year, up from its previous estimate of 20%. Sales of Eylea increased 54% in 2015.

Tarrytown, N.Y.-based Regeneron commercializes medicines for eye diseases, high cholesterol and a rare inflammatory condition. The company also has a number of other treatments in its pipeline.

Last year, U.S. and European regulators approved Praluent, the first of a powerful new class of cholesterol-lowering medicines that Regeneron developed with French drugmaker Sanofi SA. Sanofi records sales of the product, and Regeneron shares in the profits. Praluent was launched in the U.S. in the third quarter of 2015 and in certain European Union countries in the fourth quarter of 2015. Sales of Praluent in the quarter were $13 million.

For the period ended in March, Regeneron posted a profit of $166 million, or $1.45 a share, up from $76 million, or 66 cents a share, a year prior. Excluding special items, per-share earnings were $2.57 a share.

Revenue surged 38% to $1.2 billion.

Analysts polled by Thomson Reuters had forecast adjusted per-share earnings of $2.58 on revenue of $1.18 billion.

Shares, which have fallen 9% in the last three months, were inactive in premarket trading.

Write to Austen Hufford at austen.hufford@wsj.com

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