Healthcare firm Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) on Thursday reported an increase in adjusted earnings and revenues for the third quarter of 2023.
September quarter revenues rose 15% year-over-year to $3.36 billion. Net product sales, which account for more than 50% of total revenues, edged down by 1%.
Adjusted earnings moved up 4% to $11.59 per share in Q3 from $11.14 per share in the same period of 2022. Unadjusted profit was $1.0 billion or $8.89 per share, compared to $1.32 billion or $11.66 per share last year.
“We have continued our momentum in the third quarter of 2023 with double-digit year-over-year revenue growth, driven by strong Dupixent and Libtayo performance, as well as strong initial uptake of EYLEA HD following its late August launch,” said the company’s CEO Leonard Schleifer.
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