Regeneron Pharmaceuticals Inc

Latest Results (30.08.2026):

Regeneron Pharmaceuticals Inc reported first quarter 2026 (Q1 2026) results: total revenues rose 19% to $3.605 billion, GAAP diluted EPS was $6.75 and non‑GAAP diluted EPS was $9.47; the quarter included significant product approvals and pipeline progress alongside a temporary manufacturing interruption that compressed GAAP margins.

Revenue and EPS

Total revenues $3,605M (+19% y/y); GAAP net income $727M (−10% y/y) with GAAP diluted EPS $6.75; non‑GAAP net income $1,039.5M (+12% y/y) with non‑GAAP diluted EPS $9.47.

Product sales

Dupixent (Sanofi‑recorded) global net sales +33% to $4.88B; EYLEA HD U.S. net sales +52% to $468M; total EYLEA HD + EYLEA U.S. net sales reported at $941M (down ~10%); Libtayo global sales $438M (+54%); Praluent $67M (+18%).

Collaboration revenue

Collaboration revenue totaled $1,899.7M, driven by Sanofi collaboration revenue of $1,605.1M (up ~36%), reflecting higher share of commercialization profits.

Margins and costs

GAAP gross margin on net product sales declined to 76% (from 81% a year earlier). GAAP R&D was $1,544M (+16%) and GAAP COGS rose to $373M (+40%). A temporary bulk‑manufacturing interruption at the Limerick facility increased unabsorbed costs and inventory write‑offs; production resumed in Q2 with normalization expected by end of Q2 2026.

IPR&D and non‑GAAP adjustments

Acquired IPR&D expense was $102M in Q1 2026. The company noted a ~ $0.82 negative impact from IPR&D on GAAP EPS (and ~ $0.80 on non‑GAAP EPS per its disclosure); non‑GAAP results exclude several one‑time items.

Pipeline and regulatory progress

Key approvals in Q1/Q2 2026: EYLEA HD approved for dosing intervals up to 20 weeks (5 months) for wAMD and DME; Dupixent approved for chronic spontaneous urticaria in children 2–11 and for AFRS (and BP approval in Japan); Otarmeni (lunsotogene parvec) approved as the first in‑vivo gene therapy for OTOF‑related hearing loss and will be provided free in the U.S.

Shareholder returns

The board authorized a new $3.0 billion share repurchase program during Q1 2026.

Balance sheet and cash flow

Cash and marketable securities approximately $18.54B; total assets $40.87B; stockholders’ equity $31.42B; free cash flow for the quarter $848.3M.

Guidance

Full‑year 2026 guidance was largely unchanged except GAAP gross margin on net product sales was updated to 77%–78% (from prior 79%–80%). The company expects the temporary manufacturing interruption impact to abate as production returns to normal.