UPDATE: Regeneron Pharmaceuticals Posts Downbeat Q4 Earnings, But Sales Top Views

reported weaker-than-expected earnings for the fourth quarter. However, the company reported upbeat quarterly sales. The Tarrytown, New York-based company posted a quarterly net profit of $110.2 million, or $0.96 per share, versus a year-ago profit of $96.8 million, or $0.86 per share, in the year-ago period. Excluding special items, the company earned $2.79 per share. Its revenue climbed around 31% to $802.3 million. However, analysts were expecting earnings of $2.82 per share on revenue of $781.52 million. U.S. sales of Eylea surged 29% to $518 million, while net sales of EYLEA outside of the United States climbed to $297 million from $184 million. For 2015, Regeneron projects net sales of Eylea to rise 25% to 30% over 2014. Leonard S. Schleifer, M.D., Ph.D., President and Chief Executive Officer of Regeneron said,"We look forward to another strong year of EYLEA growth, driven by expanded use in diabetic macular edema, as well as the potential regulatory approval and U.S. launch of PRALUENT for hypercholesterolemia. Regeneron also continues to advance our innovative mid-to-late stage pipeline of antibodies for people with serious diseases including rheumatoid arthritis, atopic dermatitis, asthma, chronic pain, and a life-threatening infection." Regeneron shares rose 0.82% to $403.00 in pre-market trading.