Shares suffer as Regeneron reduces margin guidance

4 May 2023

Regeneron (Nasdaq: REGN) was trading 7% lower on Thursday lunchtime following the presentation of its first-quarter 2023 financial results and latest guidance for the full-year.

The US biotech reported revenue for the quarter of $3.16 billion, a rise of 7% on a year ago and ahead of the $3 billion predicted by the FactSet consensus of analyst estimates.

Regeneron had net income of $818 million, or $7.17 a share, for the quarter, down from $974 million, or $8.61 a share, in the year-earlier period.

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