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Regeneron pharmaceuticals profit soars 78% in first quarter due to Eylea sales

(Reuters) – Regeneron Pharmaceuticals Inc reported a 78% increase in its first-quarter profit on Thursday, helped by robust recovery in demand for its eye drug Eylea and strong sales of its dermatitis remedy Dupixent.

Sales of Eylea ophthalmic therapy, which must be administered by a doctor, were severely impacted last year because patients postponed office visits at the start of the coronavirus pandemic.

With the gradual easing of restrictions and quarantines and following the start of vaccinations around the world, global sales of the drug rose 17% to $ 2.17 billion in the first quarter.

Dupixent sales increased 48% to $ 1.26 billion, helped in part by the approval of special indications.

Regeneron’s net income grew to $ 1.12 billion, or $ 10.09 per share, in the quarter ending March 31, compared to a profit of $ 625 million, or $ 5.43 per share, registered in the same period of the previous year.

Total turnover increased to $ 2.53 billion, from $ 1.83 billion.

(Reports by Mrinalika Roy and Manojna Maddipatla in Bengaluru. Edited in Spanish by Marion Giraldo)

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