Coronavirus cocktail boosts Regeneron in first quarter

An estimate-beating first quarter performance lifted shares in New York’s Regeneron Pharmaceuticals (Nasdaq: REGN) over 3% on Thursday, with revenues up 38% at $2.5 billion.

Net income came in at $1.1 billion, an increase of 78% on the same period of 2020, a little over $10 per share following Generally Accepted Accounting Principles (GAAP).

Chief executive Leonard Schleifer said the result reflected the firm’s evolution into “a company with multiple durable product lines helping people with a range of serious diseases including COVID-19.”