By Dieter Holger

Regeneron Pharmaceuticals Inc. posted profit and sales in its latest quarter that rose above analysts' expectations.

The Eastview, N.Y.-based drugmaker reported earnings of $624.6 million, or $5.43 a share, in the first quarter, compared with $461.1 million, or $3.99 a year ago. Adjusted earnings were $6.60 a share.

Analysts had forecasted adjusted earnings of $5.25 a share.

Sales were $1.83 billion in the quarter, up from $1.37 billion a year ago. Analysts had expected $1.76 billion.

Demand for Regeneron's drugs Eylea, Dupixent and Libtayo drove growth for the company in the latest quarter despite the coronavirus pandemic, said Leonard Schleifer, president and chief executive officer of Regeneron.

Later this year, Regeneron aims to submit Libtayo for regulatory approval to treat non-small cell lung cancer and basal cell carcinoma treatment, Mr. Schleifer said.

Write to Dieter Holger at dieter.holger@wsj.com; @dieterholger

(END) Dow Jones Newswires

May 05, 2020 07:22 ET (11:22 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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