REGN Regeneron Pharmaceuticals Inc

   By Allison Prang 
 

Regeneron Pharmaceuticals Inc.'s (REGN) profit fell as expenses rose over 60%.

Earnings were $193.1 million, down 65% from the comparable quarter a year prior. Earnings were $1.68 a share, down from $4.82 a share.

Adjusted earnings were $6.02 a share, up from $5.45 a share. Analysts polled by FactSet were expecting $5.42 a share.

Revenue was $1.93 billion, up 20%. Analysts were expecting $1.8 billion.

Expenses rose 64%. Expenses for research and development almost doubled, which Regeneron said was mainly because of an up-front payment of $400 million for its Alnylam Pharmaceuticals Inc. (ALNY) collaboration agreement.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

August 06, 2019 07:12 ET (11:12 GMT)

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