Regeneron Q3 revenue beats on Dupixent demand

Overview

• U.S. biotechnology firm's Q3 revenue rose 36%, beating analyst expectations

• Adjusted EPS for Q3 increased 70%, beating analyst expectations

• Growth driven by higher Dupixent, EYLEA HD, Libtayo sales and increased Sanofi collaboration revenue

Outlook

• Regeneron raises 2026 GAAP R&D expense guidance to $6.6–$6.735 bln from $6.5–$6.635 bln

• Company now expects 2026 GAAP SG&A expense of $2.73–$2.86 bln, down from $2.83–$2.96 bln

• Regeneron sees 2026 GAAP gross margin on net product sales at approximately 80%, up from 78–79%

Result Drivers

• DUPIXENT SALES - Co said increased Dupixent sales drove higher profits from Sanofi collaboration

• EYLEA HD DEMAND - Co said EYLEA HD U.S. net product sales rose due to higher sales volumes driven by increased demand, partly offset by lower net selling price

• LIBTAYO DEMAND - Co said Libtayo U.S. net product sales increased due to higher sales volumes driven by increased demand

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Regeneron Pharmaceuticals, Inc. is $865.00, about 5.6% above its October 29 closing price of $818.77

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads

• Oct 30 - Sanofi Q3 revenue beats estimates on new launches; lifts outlook

• Oct 29 - Merck Q3 profit beats on Keytruda demand

• Oct 29 - Gilead Sciences Q3 adjusted EPS beats estimates on HIV growth; raises FY2026 sales outlook

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)