Regeneron rockets as financial results provide perfect picture of growth

Investors in Regeneron Pharmaceuticals (Nasdaq: REGN) could afford a rare smile in these difficult times, as the company’s first quarter 2020 results came in on Tuesday, sending shares 7% higher by midday.

First quarter revenues at the US biotech – a frequent partner of French drugmaker Sanofi (Euronext: SAN) – rose by 33% to $1.83 billion, while diluted earnings per share hit $6.60, ahead of analyst expectations of $6.09.

As well as boasting impressive sales of its Sanofi-partnered blockbuster Dupixent (dupilumab), and Bayer (BAYN: DE) partnered Eylea (aflibercept), as well as Regeneron’s newer assets look good, with Libtayo (cemiplimab-rwlc), licensed to Sanofi, showing clinically-meaningful and durable responses in pivotal second-line advanced basal cell carcinoma trial ahead of likely regulatory submissions later this year. The company’s COVID-19 efforts also include a SARS-CoV-2 antibody cocktail treatment that is moving forward rapidly.