Highlights

  • Regeneron's total third-quarter 2026 revenues rose 36% to US$5.12 billion from US$3.75 billion a year earlier.
  • GAAP Diluted Earnings per Share increased 35% to US$18.45, while non-GAAP diluted EPS climbed 70% to US$20.07.
  • Global Dupixent net sales, recorded by Sanofi, grew 35% to US$6.5 billion in the quarter.
  • An amended Sanofi agreement brings a US$1.0 billion upfront payment plus up to US$7.0 billion in milestones.

Three of its biggest medicines set quarterly sales records, lifting Revenue at Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by more than a third. On 30 October 2026, the biotechnology company reported third-quarter 2026 total revenues of US$5,116 million, up 36% from US$3,754 million a year earlier.

GAAP Net Income rose 33% to US$1,949 million, or US$18.45 per diluted share, while non-GAAP net income increased 67% to US$2,150 million, or US$20.07 per diluted share. Chief Executive Officer Leonard S. Schleifer said Dupixent, EYLEA HD and Libtayo each achieved record net sales.

Sanofi Collaboration and Libtayo Drive the Top Line

Global Dupixent net sales, which Sanofi records, grew 35% to US$6.5 billion. Regeneron's collaboration revenue from Sanofi jumped 68% to US$2,724 million, reflecting a larger share of antibody profits and the full repayment of the Sanofi Development Balance at the end of the second quarter of 2026.

Net product sales rose 14% to US$1,805 million. In the US, EYLEA HD sales climbed 62% to US$699 million while EYLEA fell 41% to US$400 million, leaving the combined Franchise down 1% at US$1,099 million. Libtayo global sales increased 51% to US$550 million, Praluent rose 21% to US$81 million in the US and Lynozyfic contributed US$19 million. Bayer collaboration revenue fell 23% to US$267 million.

Regulatory Wins and Late-Stage Pipeline Progress

Since the quarter began, the US Food and Drug Administration approved Pasatru (garetosmab) for adults with fibrodysplasia ossificans progressiva, and Japan approved Libtayo for cutaneous squamous cell carcinoma, including as an adjuvant treatment. On 25 October 2026, the company presented longer-term data showing an increasing overall survival benefit with adjuvant Libtayo in high-risk cutaneous squamous cell carcinoma.

The FDA accepted a resubmitted application for Ordspono in relapsed or refractory diffuse large B-cell lymphoma, with a target action date in February 2027. Management expects an FDA decision on cemdisiran in generalized myasthenia gravis in November 2026 and plans a Phase 3 study of an RNAi therapy targeting CIDEB in the fourth quarter of 2026.

Updated Guidance, Capital Returns and New Agreements

Regeneron raised its 2026 non-GAAP Research and Development guidance to US$6.05 billion to US$6.15 billion, lowered non-GAAP selling, general and administrative guidance to US$2.40 billion to US$2.50 billion and now expects a non-GAAP gross Margin on net product sales of about 86%.

In October 2026, an amended agreement with Sanofi provided a US$1.0 billion upfront payment, to be recognized in the fourth quarter, plus up to US$7.0 billion in milestones for four next-generation long-acting antibodies. Regeneron also extended its BARDA agreement to Supply Inmazeb annually from 2027 through 2031. The company repurchased US$2.3 billion of shares in the first nine months, held US$18.86 billion in cash and marketable securities and declared a US$0.94 Dividend payable on 3 December 2026.