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Regeneron reports $191.5 million net income in third quarter

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Regeneron reported $191.5 million in third-quarter net income, compared to a net loss of $62.4 million during the same period last year, according to a news release.

Sales of Eylea (aflibercept) increased to $244 million for the quarter, a 26% increase over the second quarter, and $562 million for the first three quarters.

“The Eylea launch continues to progress well and is driving strong sales and earnings growth. … With the recent approval of Eylea in the United States for the treatment of macular edema following central retinal vein occlusion and the anticipated launch beginning by the end of this year in Japan, Australia and Europe, we expect Eylea to continue to drive growth through 2013 and beyond,” Leonard S. Schleifer, MD, PhD, president and CEO of Regeneron, said in the release.

The company reported revenue of $427.7 million for the third quarter, compared with $102.8 million for the same quarter last year. For the 9 months that ended Sept. 30, revenues were $963.9 million, compared with $322.8 million for the same period last year.

Third-quarter expenses increased to $225.3 million from $161.3 million last year.