Healthcare firm Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) on Thursday reported an increase in adjusted earnings and revenues for the second quarter of 2023.
June quarter revenues grew 11% year-over-year to $3.16 billion. Net product sales, which account for more than 50% of total revenues, edged up 1%.
Adjusted earnings moved up 5% to $10.24 per share in Q2 from $9.77 per share in the same period of 2022. Unadjusted profit was $968 million or $8.50 per share, compared to $852 million or $7.47 per share last year.
“We remain focused on advancing our robust pipeline at all stages, and we were pleased to announce positive data from a late-stage study of Dupixent in COPD and make continued progress with our costimulatory and bispecific antibody candidates in oncology,” said the company’s CEO Leonard Schleifer,” said the company’s CEO Leonard Schleifer.