Regeneron Pharmaceuticals delivered impressive results in the fourth quarter of 2018 wherein both earnings and sales beat estimates, according to a Nasdaq report.
Shares are up on better-than-expected fourth-quarter results. Notably, the stock has gained 9.5% in the past 6 months against the industry ‘s decline of 13.1%.
Regeneron reported earnings of $6.84 per share in the fourth quarter, comfortably beating the Zacks Consensus Estimate of $5.69. The bottom line also improved from $5.23 in the year-ago quarter.
Total revenues in the reported quarter increased 22% year over year to $1.93 billion, driven by strong sales of Dupixent and the flagship drug, Eylea. The top line also surpassed the Zacks Consensus Estimate of $1.71 billion.
Regeneron co-developed Eylea with the HealthCare unit of Bayer AG. The company is solely responsible for the sales of this eye drug and is entitled to profits in the United States. However, it shares profits and losses equally with Bayer from ex-U.S. Eylea sales, except in Japan where the company receives a royalty on net sales.