Regeneron Pharmaceuticals' quarterly revenue grew on record sales for a trio of drugs.
The drugmaker said Friday third-quarter revenue climbed 36% to $5.12 billion. Analysts polled by FactSet expected $4.56 billion.
The growth was boosted by higher sales of Dupixent, which is approved for a range of conditions that include asthma and eczema. Increased sales for eye medicine Eylea HD and cancer immunotherapy drug Libtayo also contributed to the overall growth.
Each of those drugs hit record net sales in the quarter, Chief Executive Leonard Schleifer said.
The stock gained 13%, to $924.17. Shares are now up 20% year to date.
Under a longstanding alliance to jointly develop and market new immunology medicines, France's Sanofi records global net product sales of Dupixent, and Regeneron gets a share of profits from the drug. The companies earlier this month expanded their collaboration to include four additional drugs invented by Regeneron.
Schleifer also highlighted momentum with the company's pipeline of about 50 product candidates across areas including multiple myeloma, lymphoma, anticoagulation and obesity. The company expects a decision from the Food and Drug Administration for its cemdisiran drug in generalized myasthenia gravis next month, he added.
Third-quarter profit came in at $1.95 billion, or $18.45 a share, compared with $1.46 billion, or $13.62 a share, a year earlier.
Adjusted earnings per share were $20.07, compared with analyst estimates of $16.42, according to FactSet.
For the full year, the company now expects capital expenditures of $1.05 billion to $1.1 billion, raising the bottom end of its previous forecast range of $1.03 billion to $1.1 billion.
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