By Allison Prang

Earnings at Regeneron Pharmaceuticals Inc. (REGN) declined in the first quarter as expenses grew by 30%, climbing faster than revenue.

Regeneron reported $461.1 million in profit, which was down 3.5% from the comparable quarter a year prior. Earnings were $3.99 a share, down from $4.16 a share.

The company's adjusted earnings were $4.45 a share, down from $4.67 a share. Analysts polled by Refinitiv were expecting $5.46 a share.

Revenue rose 13% to $1.71 billion. Analysts were expecting $1.76 billion. Expenses rose 30%.

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

(END) Dow Jones Newswires

May 07, 2019 06:58 ET (10:58 GMT)

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