After peaking at around $600 last summer, Regeneron (NASDAQ:REGN) is proving its worth after posting strong quarterly results. The company is also a COVID-19 drug play, too.

Regeneron posted revenue leaping 30% year-on-year to $2.42 billion. Dupixent is the blockbuster drug. Global sales topped $1.17 billion for the quarter alone, up 56% Y/Y. Sanofi (NASDAQ:SNY) recorded the results. EPS was $10.24. Buried in the details are the REGEN-COV antibody cocktail. The FDA granted the company emergency use. This followed with a 1.25 million additional dose order from the government.

Regeneron is refining the dosage. Its Phase 2/3 seamless trial showed the viral load fell sharply.

This led to a drop in hospitalizations, emergency room, and urgent care visits. The government’s purchase order will add up to $2.625 billion. Adding Eylea, Dupixent, and to a lesser degree Praluent, Kevzara, and Libtayo will accelerate revenue growth.

The company has strong free cash flow. And as orders and prescriptions for its products rises, the company may buyback shares. It already invests more than enough in R&D. An aggressive acquisition is possible. This is not desired: Gilead (NASDAQ:GILD) pursued that route only to show no results yet. With its razor sharp management focus, expect REGN stock to start outperforming the market this year.