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Regeneron reports $1.2 billion in revenue in first quarter

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Regeneron reported $1.2 billion in total revenue in the first quarter, a 38% increase from $870 million in the same quarter of 2015, according to a press release.

Total revenue in the first quarter included $784 million in Eylea (aflibercept) net product sales and $399 million in collaboration revenues.

GAAP net income was reported at $166 million, or $1.59 per basic share and $1.45 per diluted share, in the first quarter compared with $76 million, or $0.74 per basic share and $0.66 per diluted share, in the same quarter of 2015.

Research and development expenses were reported at $470 million in the first quarter compared with $343 million in the same quarter of 2015. The increase was primarily attributed to higher development costs.