Regeneron's Profit Falls as Expenses Spike
August 06 2019 - 7:27AM
Dow Jones News
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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