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What: Shares of high-flying biotechnology firm Regeneron Pharmaceuticals
So what: For the quarter, Regeneron reported a 52% increase in revenue to $232 million and a profit of $0.11. Both of these figures crushed Wall Street's expectations for the first quarter. The big news of the day was that Regeneron once again doubled its sales forecast for Eylea -- the second time it has done so in just a matter of months. Regeneron now expects sales of $500 million to $550 million, which far exceeds the $250 million to $300 million it forecast in February.
Now what: Any worries about competing treatments seem to be flying out the window. Eylea, which is used to treat wet age-related macular degeneration, is a cheaper alternative to Lucentis which is co-marketed by Roche (OTC: RHHBY) and Novartis
Craving more input? Start by adding Regeneron Pharmaceuticals to your free and personalized watchlist so you can keep up on the latest news with the company.
Fool contributor Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.
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