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Regeneron reports $478 million in first quarter income

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Regeneron reported a GAAP net income of $478 million, or $4.44 per basic share, in the first quarter of 2018 compared with a net income of $249 million, or $2.36 per basic share, in 2017’s first quarter, according to a press release.

Total revenues increased 15% in the quarter to $1.511 billion compared with $1.319 billion in last year’s first quarter. Eylea (aflibercept) sales rose to $984 million in the United States and to $1.61 billion globally.

General and administrative expenses rose from $297 million in 2017’s first quarter to $331 million this year, while research and development costs decreased from $507 million to $499 million.