Regeneron revenue jumps 30% in Q4 to hit $2.42B

Friday, 05. February 2021 12:35

Regeneron Pharmaceuticals Inc. released on Friday fourth-quarter earnings results, saying that its revenue annually soared 30% to reach $2.42 billion in the final trimester of 2020. Regeneron's net income skyrocketed 66% to $1.15 billion in the same period, resulting in $10.24 income per diluted share.

Commenting on the results, Chief Executive Leonard Schleifer praised the fact that "the Regeneron team rapidly mobilized its significant scientific, development, manufacturing, and operational capabilities to bring its monoclonal antibody cocktail, REGEN-COV, to patients with the COVID-19 through an Emergency Use Authorization." The report added that interim results of the last trial phase of REGEN-COV used as a passive vaccine to prevent the disease came back positive.

The company's shares rose 2.68% in the premarket trading to sell for $512.20 per share following the announcement.

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