Regeneron Pharmaceuticals, Inc. (REGN) has reported a 25.86 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $264.80 million, or $2.27 a share in the quarter, compared with $210.40 million, or $1.82 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $365 million, or $3.13 a share compared with $276.37 million or $2.38 a share, a year ago.
Revenue during the quarter grew 7.27 percent to $1,220.12 million from $1,137.42 million in the previous year period. Gross margin for the quarter expanded 597 basis points over the previous year period to 96.38 percent. Total expenses were 70.27 percent of quarterly revenues, up from 65.50 percent for the same period last year. That has resulted in a contraction of 477 basis points in operating margin to 29.73 percent.
Operating income for the quarter was $362.80 million, compared with $392.42 million in the previous year period.
"In the third quarter, we saw continued U.S. sales growth with EYLEA in retinal diseases and with Praluent in hypercholesterolemia," said Leonard S. Schleifer, M.D., Ph.D., president and chief executive officer of Regeneron. "We are preparing for a potential approval and launch for Dupixent in atopic dermatitis and continuing to advance our pipeline at all stages."
For the fiscal year 2016, Regeneron Pharmaceuticals, Inc. forecasts revenue to grow in the range of 23 percent to 25 percent.
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