$REGN · REGENERON PHARMACEUTICALS, INC.
Regeneron filed its Q3 FY2026 10-Q, reporting revenue of $5.116B (+36.3% YoY), net income of $1.949B, and diluted EPS of $18.45. The quarter was powered by Dupixent global sales of $6.54B (+35%) and EYLEA HD at $1.08B (+63%), while collaboration revenue from Sanofi nearly doubled to $2.724B. Operating income surged to $2.048B from $1.027B a year ago.
- Q3 revenue $5.116B, +36.3% YoY, driven by collaboration revenue nearly doubling to $3.0B
- Diluted EPS $18.45 vs $13.62 a year ago; net income $1.949B vs $1.460B
- Dupixent global sales hit $6.54B in Q3 (+35% YoY); EYLEA HD global sales $1.08B (+63%)
- Income from operations nearly doubled to $2.048B from $1.027B; operating margin 40.0%
- Share repurchases totaled $2.36B over nine months; diluted shares fell to 105.6M from 107.2M
Extended-hours trading shows REGN at $872.14, +6.52% vs the $818.77 regular close, indicating strong positive reaction to the Q3 beat. The $84.3B market cap company delivered revenue and earnings well above year-ago levels.
Regeneron's 36% revenue growth and near-doubling of operating income confirm its two-franchise strategy is working, with Dupixent and EYLEA HD more than compensating for legacy EYLEA erosion.
Dupixent's $6.54B quarterly global sales reinforce Regeneron/Sanofi's dominance in the atopic dermatitis and Type 2 inflammation markets. EYLEA HD's 63% growth offsets legacy EYLEA erosion, mirroring the biosimilar-defense playbook seen across large-cap biopharma.
EYLEA U.S. sales declined 49% YoY as the HD formulation cannibalizes the legacy product; total EYLEA franchise U.S. sales dipped slightly ($1.099B vs $1.111B). Other income dropped sharply to $246.5M from $755.8M due to lower securities gains.