Regeneron announces $626 million in 2014 first quarter revenue
Regeneron reported total revenue of $626 million in the first quarter of 2014, a 42% increase from its 2013 first quarter revenue of $440 million, according to a press release.
Net product sales were reported at $362 million, increasing by $43 million from the first quarter of 2013.
The company reported $287 million in GAAP research and development expenses for the first quarter of 2014, marking an increase from $180 million during the same period in 2013. This difference was due to primarily increased research and development activities, including the antibody collaboration with Sanofi; higher research and development headcount; and higher non-cash shared-based compensation expense, the release said.
Non-GAAP net income was reported at $263 million, or $2.66 per basic share and $2.26 per diluted share, for the first quarter of 2014, compared with $201 million, or $2.07 per basic share and $1.78 per diluted share, for 2013. GAAP net income was $65 million, or $0.66 per basic share and $0.58 per diluted share, compared with $99 million, or $1.02 per basic share and $0.90 per diluted share, during the first quarter of 2013.