Regeneron's Q1 revenue jumps 38% to $2.53B

Thursday, 06. May 2021 12:34

Regeneron Pharmaceuticals Inc. announced on Thursday that its revenue for the first quarter of 2021 stood at $2.53 billion increasing 38% when compared to the same period last year.

For the same period, the company's net income rose from $625 million to $1.11 billion, constituting a per annum rise of 78%. Furthermore, the income contributes to Regeneron's earnings per share of $10.09, surging 88% year-over-year.

President and Chief Executive Officer of Regeneron Leonard Schleifer commented on the report saying: "Regeneron had a strong first quarter highlighting our continued evolution into a company with multiple durable product lines helping people with a range of serious diseases including COVID-19. We recently reported positive Phase 3 results for REGEN-COV in both the COVID-19 outpatient treatment and prevention settings and are working with national and state authorities to improve access."

Regeneron's shares were up 0.74% in premarket trading following the strong report.

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