Last week, three biotech giants posted strong quarterly results. Regeneron’s (NASDAQ:REGN) sales increase is most impressive.
In the second quarter, Regeneron posted revenue growing by 163% Y/Y to $5.14 billion. This excluded the $2.76 billion in sales of its antiviral, REGEN-COV.
Dupixent continued its strong momentum after net sales increased by 59% to $1.50 billion. It earned $27.97 a share.
Just as Regeneron benefited from COVID therapeutics, Pfizer (NYSE:PFE) is an attractive dividend-income investment. On Aug. 2, the U.S. Army awarded Pfizer with a $3.5 billion contract to manufacture 500 million doses of the Covid vaccine. Pfizer will deliver the product on a not-for-profit basis.
Previously, the U.S. paid $19.50 a shot.
After topping forecasts, AbbVie (NYSE:ABBV) is stock investors should consider buying. It posted Q2 revenue rising by 33.9% Y/Y to $13.96 billion. The immunology portfolio did well, up 15.1% Y/Y to $6.12 billion. Despite facing patent expiry, Humira’s net revenue grew by 4.8% to $5.07 billion.
AbbVie keeps proving bears wrong. The stock is a reliable dividend income investment. Even if the stock moved nowhere, investors collect a dividend. AbbVie recorded a $2 billion charge in intangible assets, plus $2.7 billion in fair value contingent consideration. Still, it cuts AbbVie’s tax burden.
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