Regeneron Pharmaceuticals Inc (REGN) Stock Pops on Mixed Q3 Results

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Regeneron Pharmaceuticals Inc (NASDAQ:REGN) stock was up on Friday following mixed results in its earnings report for the third quarter of 2016.

Regeneron Pharmaceuticals Inc, REGN stockRevenue reported by Regeneron Pharmaceuticals Inc in the third quarter of 2016 was $1.22 billion. This is an increase over the company’s revenue of $1.14 billion from the same time last year. However, it failed to meet Wall Street’s revenue expectations of $1.29 billion for the quarter.

Regeneron Pharmaceuticals Inc reported earnings per share of $3.13 for the third quarter of 2016. The biopharmaceutical company reported earnings per share of $2.38 in the third quarter of 2015. Analysts were expecting the company to report earnings per share of $2.71.

Regeneron Pharmaceuticals Inc noted that sales of Eeleya in the United States increased to $854 million from $734 million when compared to the same time last year. This represents a 16% increase in sales of the drug.

Sales of Praluent during the third quarter of 2016 also increased. Global sales of Regeneron Pharmaceuticals Inc’s Praluent for the quarter were $38 million. Praluent sales from the third quarter of 2015 were $4 million.

Regeneron Pharmaceuticals Inc also said that it currently has  sixteen product candidates that are in development. One of these is Eeleya and the other are 15 antibodies designed for use in humans. Five of them are being developed with the help of Sanofi SA (ADR) (NYSE:SNY).

“”We are preparing for a potential approval and launch for Dupixent in atopic dermatitis and continuing to advance our pipeline at all stages,”  Leonard S. Schleifer, President and CEO of Regeneron Pharmaceuticals Inc, said in a statement.

REGN stock was up 2% as of Monday morning, but is down 36% year-to-date.

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