Regeneron's Profit Falls as Expenses Spike

Date : 08/06/2019 @ 11:27AM
Source : Dow Jones News
Stock : Regeneron Pharmaceuticals Inc (REGN)
Quote : 344.24  -0.22 (-0.06%) @ 4:59AM

Regeneron's Profit Falls as Expenses Spike

Regeneron Pharmaceuticals (NASDAQ:REGN)
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6 Months : From May 2019 to Nov 2019

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   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)

Copyright (c) 2019 Dow Jones & Company, Inc.

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