US biotech Regeneron (Nasdaq: REGN) missed the expectations of Wall Street analysts in both its first-quarter sales and earnings, sending its share price tumbling on Tuesday.
Total revenue rose by 13% compared to the first quarter of 2018, to $1.71 billion, but this was still well shy of the FactSet consensus of $1.77 billion.
Profit for the latest quarter fell to $461 million from $478 million a year ago, a 4% decline, and adjusted earnings per share came in at $4.45 per share, badly missing the FactSet consensus of $5.48 per share.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze