Regeneron's quarterly profit tops estimates on Eylea sales

[November 08, 2017] (Reuters) - Regeneron Pharmaceuticals Inc reported a better-than-expected quarterly profit on Wednesday, helped by higher sales of its flagship eye treatment Eylea.

Eylea, which is used to treat macular degeneration and other eye disorders that cause age-related vision loss, raked in $953 million in U.S. sales in the third quarter ended Sept. 30, beating consensus estimates of $935 million, according to Barclays.

Excluding items, Regeneron earned $3.99 per share, above the analysts' average estimate of $3.85, according to Thomson Reuters I/B/E/S.

The U.S. biotechnology company said net income rose to $388.3 million, or $3.32 per share, in the third quarter from $264.8 million, or $2.27 per share, a year earlier.

Total revenue, which includes collaboration revenue from partners Sanofi SA and Bayer AG, rose to $1.50 billion from $1.22 billion.

(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Sriraj Kalluvila)

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