Regeneron sales top forecast as Eylea delivers

Tue Aug 5, 2014 6:43am EDT

Aug 5 (Reuters) - Regeneron Pharmaceuticals Inc on Tuesday reported quarterly sales above expectations on surging demand for its Eylea treatment for macular degeneration, the leading cause of blindness in the elderly.

The U.S. biotechnology company on Tuesday said it had earned $93 million, or 82 cents per share, in the second quarter. That compared with $87 million, or 79 cents per share, in the year-earlier period, when it incurred expenses for compensation, loans and income taxes.

Revenue jumped 45 percent to $666 million, topping the average forecast of $648 million among analysts surveyed by Thomson Reuters I/B/E/S.

U.S. sales of Eylea rose 26 percent to $415 million, topping Wall Street expectations of $410 million. (Reporting by Ransdell Pierson; Editing by Lisa Von Ahn)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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