Regeneron posts 36% revenue jump to $5.1bn; shares close 13% higher

Regeneron Pharmaceuticals said on 30 October 2026 that total revenues for the third quarter rose 36% year on year to $5.116bn, from $3.754bn, according to its results release. Collaboration revenue from Sanofi rose 68% to $2.724bn from $1.617bn; by Polstob's calculation, that line supplied about $1.11bn of the $1.36bn increase in total revenues. The company tied the Sanofi gain to a bigger share of profits on the antibodies the two companies commercialise, mainly from higher Dupixent sales, and to the Sanofi development balance, which was paid off by the end of June and stopped reducing this revenue from the third quarter.

Dupixent, the inflammatory-disease antibody Regeneron developed with Sanofi, had global net sales of $6.54bn in the quarter, up 35% from $4.857bn a year earlier. Sanofi records those sales, not Regeneron, which books its share of the profits in collaboration revenue. Regeneron's share of profits on antibodies commercialised with Sanofi was $2.575bn, against $1.456bn a year earlier.

GAAP diluted EPS rose 35% to $18.45 from $13.62 a year earlier, and GAAP net income rose 33% to $1.949bn. Non-GAAP diluted EPS rose 70% to $20.07 from $11.83 a year earlier. The non-GAAP figures exclude items including stock-based compensation and net gains on marketable and other securities; those gains were $60m in the quarter, against $578m a year earlier, and the company said lower gains were the main reason GAAP other income fell. Chief financial officer Christopher Fenimore said revenue and non-GAAP EPS had now grown by double digits for three straight quarters, according to the release.

Among products Regeneron records itself, US net sales of EYLEA HD rose 62% to $699m, while US sales of the older EYLEA fell 41% to $400m, which the company put down to competition and patients moving to EYLEA HD. Global Libtayo net sales rose 51% to $550m. Chief executive Leonard Schleifer said Dupixent, EYLEA HD and Libtayo were "each achieving record net sales", according to the results release.

Regeneron's 2026 guidance covers costs, margins, tax and capital spending, not revenue or EPS. In guidance issued on 30 October 2026, it raised its non-GAAP R&D range by $100m at both ends and lowered its non-GAAP SG&A range by the same amount, compared with the ranges in its second-quarter release of 30 July 2026. It repurchased $2.3bn of its shares in the first nine months of 2026 and declared a dividend of $0.94 a share, payable on 3 December 2026. The company also said the $1.0bn up-front payment under its expanded Sanofi antibody deal, agreed earlier in October, will be recognised as collaboration revenue in the fourth quarter of 2026.

Regeneron shares closed at $927.89 on Friday, 30 October 2026, up $109.12 or 13.33%, at the end of Nasdaq's regular session at 4:00 pm ET (21:00 CET), according to Google Finance, checked at 23:40 CET. That is the regular-session close and excludes after-hours trades. Investor's Business Daily reported that the stock reached a two-year high on Friday. By Polstob's calculation, comparing that close with Nasdaq's historical prices, Friday's close was the highest since 28 October 2024.