Regeneron 4th-qtr sales and earnings beat expectations

Shares of US biotech Regeneron Pharmaceuticals (Nasdaq: REGN) were up 2.64% at $382.00 in early trading, after it reported financial results that beat expectations.

For the fourth quarter of 2019, sales rose 13% to $2.17 billion, exceeded analysts’ forecasts of $2.10, while adjusted earnings per share (EPS) came in at $7.50, well beating expectations of $6.03.

For the full year, total revenues increased 17% to $7.863 billion. Non-generally accepted accounting principles (GAAP) net income was up 8% at $2.827 billion, or $24.67 per diluted share, for the full year 2019, compared to non-GAAP net income of $2.622 billion, or $22.84 per diluted share, for the full year 2018.