Regeneron Pharmaceuticals quarterly profit beats on strong drug sales

Regeneron's antibody cocktail garnered $145.5 million in sales for the fourth quarter. While, the consensus Wall Street estimate was $173 million, according to Guggenheim analyst Yatin Suneja.

Regeneron Pharmaceuticals Inc's quarterly profit surged past estimates on Friday, benefiting from a recovery in demand for its flagship eye drug and a jump in sales of its eczema drug, sending the drugmaker's shares up 3% before the bell.
 

However, Regeneron recorded tepid sales from its dual antibody cocktail, REGEN-COV, which won U.S. emergency use authorization in November for non-hospitalized Covid-19 patients at high risk of becoming severely ill.
 

Regeneron and rival Eli Lilly's antibody therapies have so far seen lackluster demand as patients need to be isolated for administering the drug through one-time intravenous infusion, which adds to the