$REGN · REGENERON PHARMACEUTICALS, INC.
Regeneron reported Q3 2026 results with total revenues of $5.116B (+36% YoY), GAAP EPS of $18.45 (+35%), and non-GAAP EPS of $20.07 (+70%). Dupixent global sales hit a record $6.5B, EYLEA HD U.S. sales reached $699M (+62%), and Libtayo global sales grew 51% to $550M. The company also announced an expanded Sanofi collaboration with $1.0B upfront and up to $7.0B in milestones, plus FDA approval of Pasatru for FOP.
- Total revenues of $5.116B grew 36% YoY, driven by Dupixent global sales of $6.5B (+35%) and EYLEA HD U.S. sales of $699M (+62%).
- Non-GAAP EPS of $20.07 beat the prior-year $11.83 by 70%; GAAP EPS of $18.45 rose 35% YoY.
- Sanofi collaboration revenue hit $2.724B (+68%) as the Development Balance was fully repaid, ending the drag on profit-sharing.
- Expanded Sanofi alliance adds four next-gen immunology antibodies with $1.0B upfront and up to $7.0B in milestones.
- FDA approved Pasatru (garetosmab) for FOP; cemdisiran FDA decision in generalized myasthenia gravis expected next month.
Extended-hours trading shows REGN at $872.14, up 6.52% vs the regular close of $818.77, reflecting strong positive reaction to the beat and Sanofi deal. The $84.3B market cap company added roughly $5.5B in after-hours value.
A 70% non-GAAP EPS surge, record Dupixent sales, and a transformative $8B Sanofi deal in one quarter make this one of the strongest biotech prints of the cycle.
Regeneron's 36% revenue growth and 70% non-GAAP EPS expansion far outpace large-cap biotech peers, with Dupixent's $6.5B quarterly run-rate cementing its status as the dominant immunology franchise. The Sanofi deal deepens the pipeline behind Dupixent's eventual LOE.
EYLEA U.S. net product sales fell 41% YoY to $400M due to competitive pressures and patient transition to EYLEA HD; combined EYLEA/EYLEA HD U.S. sales were flat at $1.099B (-1%). GAAP other income dropped sharply on lower securities gains.