Regeneron’s Covid Therapy Propels Strong Second-Quarter Growth

Regeneron Pharmaceuticals Inc. beat Wall Street expectations for the second quarter as sales more than doubled from a year earlier, boosted by orders of the drugmaker’s Covid-19 antibody cocktail.

Revenue in the period surged to $5.14 billion, well above the average estimate of $4 billion, according to data compiled by Bloomberg. Some $2.76 billion of the total came from the company’s REGEN-COV coronavirus treatment, the company said in a statement. Profit also increased to $25.80 a share, 50% higher than Wall street expected.

Shares of Tarrytown, New York-based Regeneron rose 2.3% to $594.20 at 10:20 a.m. in New York Thursday. ...