Regeneron Pharmaceuticals (REGN) has reported 37.24 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $248.93 million, or $2.16 a share in the quarter, compared with $181.38 million, or $1.59 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $337 million, or $2.92 a share compared with $273 million or $2.40 a share, a year ago. 

Revenue during the quarter grew 9.84 percent to $1,318.99 million from $1,200.85 million in the previous year period. Gross margin for the quarter expanded 292 basis points over the previous year period to 93.62 percent. Total expenses were 67.36 percent of quarterly revenues, down from 72.58 percent for the same period last year. This has led to an improvement of 522 basis points in operating margin to 32.64 percent.

Operating income for the quarter was $430.54 million, compared with $329.31 million in the previous year period.

"In the first quarter, we were thrilled to receive U.S. FDA approval for Dupixent, our breakthrough therapy for moderate-to-severe atopic dermatitis, and are working to support access for appropriate patients who suffer from this serious disease," said Leonard S. Schleifer, M.D., Ph.D., president and chief executive officer of Regeneron. "We are also pleased to have positive Phase 2 results with dupilumab in moderate-to-severe eosinophilic esophagitis, which marks the fourth allergic disease in which dupilumab has shown proof of concept. These data further validate the hypothesis that the IL-4/IL-13 pathway is a major driver in multiple allergic diseases. Additionally, we have received a new FDA action date for Kevzara, our therapy for rheumatoid arthritis, and are looking forward to a potential U.S. approval and launch in late May 2017."