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Regeneron gains after 1Q13 results

May 3, 2013 11:53 PM UTC

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) gained $17.53 to $266.16 on Friday after reporting 1Q13 revenues that beat the Street and announcing 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. The company posted 1Q13 revenues of $440 million, up 90% from $232 million in 1Q12 and beating the Street's estimate of $424.3 million. Sales of ophthalmic drug Eylea aflibercept more than doubled to $314 million in 1Q13 from $124 million in 1Q12. The company increased its guidance for 2013 U.S. net Eylea sales to $1.25-$1.33 billion from $1.2-$1.3 billion. Regeneron reported 1Q13 non-GAAP diluted EPS of $1.78, up from $1.41 in 1Q12 and beating by $0.38 the Street's estimate of $1.40. ...