(Boursier.com) — Regenerate , the American laboratory, announced a sharp drop in its quarterly profits with the erosion of revenues linked to Covid-19. Quarterly profit fell by half, as US sales of eye blockbuster Eylea fell and sales of the Covid-19 antibody cocktail dried up. Over the quarter ended, Regeneron posted a net profit of $1.2 billion and $10.5 per share, against $2.23 billion a year earlier. Quarterly revenue meanwhile fell 31% to $3.41 billion. Adjusted earnings per share still clearly exceeded expectations at $12.56, compared to $23.42 a year earlier and $10.2 from the FactSet consensus. Revenues compare to a consensus of $3.13 billion.
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