August 6, 2019 / 10:44 AM / 13 days ago

Regeneron second-quarter revenue beats on Eylea sales

Aug 6 (Reuters) - Regeneron Pharmaceuticals Inc reported better-than-expected quarterly revenue on Tuesday, boosted by demand for its blockbuster eye drug, Eylea.

The company's total revenue rose 20.3% to $1.93 billion in the second quarter ended June 30, beating the average analyst estimate of $1.80 billion, according to IBES data from Refinitiv.

Net income fell to $193.1 million, or $1.68 per share, from $551.4 million, or $4.82 per share, a year earlier.

The company recorded higher research and development expenses in the latest reported quarter due to a one-time payment related to its collaboration with Alnylam Pharmaceuticals Inc. (Reporting by Manas Mishra and Shivani Singh; Editing by Maju Samuel)

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