At least 30 biotechs and pharmas reported earnings last week. Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) was up 23% for the week, adding $4.8 billion to its market cap. The company beat analyst consensus earnings and revenue estimates, and raised its 2013 sales expectations for Eylea aflibercept to $1.25-$1.33 billion from $1.2-$1.3 billion. Eylea, launched in the U.S. in November 2011 to treat wet age-related macular degeneration (AMD), had 2012 U.S. sales of $838 million. Regeneron shares were up 10% last Wednesday after Allergan Inc. (NYSE:AGN) disclosed that it expects a one- to two-year delay for its AMD compound AGN-150998. Allergan, which was down 7% on the week, said the initial analysis of the Phase II program did not "support directly moving to Phase III."

Regeneron also announced last week that it acquired full rights from Sanofi (Euronext:SAN; NYSE:SNY) to two families of antibodies being co-developed by the companies under a 2007 deal (see B6).