Earnings Releases·Oct 30, 2026, 6:50 AM ET

Regeneron — Third Quarter 2026 Earnings Summary

Total revenues surged 36% year-over-year to $5.116 billion, driven by a 68% increase in Sanofi collaboration revenue to $2.724 billion and a 35% rise in Dupixent sales to $6.541 billion; GAAP net income rose 33% to $1.949 billion.
Full-year 2026 guidance was updated to raise R&D and gross margin targets while lowering SG&A and capital expenditure expectations, reflecting a 22% increase in R&D expenses and a stable 82% gross margin on net product sales.
Strategic milestones include FDA approval of Pasatru for FOP, a positive CHMP opinion for Libtayo dosing, and a $1.0 billion up-front payment from an expanded Sanofi collaboration, alongside $2.3 billion in stock repurchases and a $0.94 per share dividend declaration.
The pipeline remains active with an expected FDA decision for cemdisiran in November 2026, planned Phase 3 initiations for MASH and POTS, and interim data showing a 70% liver fat reduction for an RNAi therapy targeting CIDEB.
EYLEA HD U.S. sales grew 62% to $699 million, partially offsetting a 41% decline in legacy EYLEA U.S. sales to $400 million due to competitive pressures and patient transitions.