Regeneron beats Street, ups Eylea guidance

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) gained $20.62 to $302.32 on Tuesday after reporting 3Q13 earnings that beat the Street. The company's 3Q13 GAAP diluted EPS was $1.25, down from $1.72 in 3Q12 but beating the Street's estimate of $0.90. Revenues in the quarter were $597 million, up 39% from $428 million in 3Q12 and beating the Street's estimate of $502.8 million.

U.S. sales of ophthalmic drug Eylea aflibercept were $363 million in the quarter, up 49% from $244 million in 3Q12. Bayer AG (Xetra:BAYN), which has ex-U.S. rights to Eylea from Regeneron, recorded ex-U.S. Eylea sales of $125 million in 3Q13. Regeneron increased its guidance for 2013 U.S. net Eylea sales to $1.35-$1.38 billion from $1.3-$1.35 billion. ...