Regeneron Pharmaceuticals (NASDAQ:REGN) on Wednesday reported better-than-expected first-quarter financial results and announced a $3 billion share buyback.
Regeneron Pharmaceuticals reported quarterly earnings of $9.47 per share which beat the analyst consensus estimate of $8.89 per share. The company reported quarterly sales of $3.605 billion which beat the analyst consensus estimate of $3.483 billion.
“In the first quarter of this year, we were able to achieve strong double-digit growth on both the top and bottom line while continuing to invest significant resources in our portfolio of nearly 50 product candidates in clinical development,” said Leonard S. Schleifer, M.D., Ph.D., Board co-Chair, President and Chief Executive Officer of Regeneron. “Additionally, we …