Regeneron Posts Rapid Growth Due to Dupixent
Regeneron Pharmaceuticals (NASDAQ: REGN) unveiled its first-quarter financial results before the market opened on Tuesday, reporting revenue growth of 33.2% year over year to $1.83 billion and non-GAAP earnings of $6.60 per share, up 48.3%.
The biotech company's revenue growth was driven largely by growing sales of Dupixent, an eczema drug that secured Food and Drug Administration approval for use in asthma patients in March 2019. Dupixent revenue, which is reported by collaboration partner Sanofi (NASDAQ: SNY), surged 129% year over year to $855.2 million in Q1.
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Source Fool.com
