Regeneron Pharmaceuticals reported third quarter revenue of 5.1 billion dollars on October 30, up 36 percent from a year earlier, with GAAP earnings per share up 35 percent to 18.45 dollars and non-GAAP earnings per share up 70 percent to 20.07 dollars. The company said Dupixent, Eylea HD and Libtayo each set quarterly sales records.
Dupixent global net sales, recorded by partner Sanofi, rose 35 percent to 6.5 billion dollars. Sanofi collaboration revenue climbed to 2.724 billion dollars from 1.617 billion dollars a year earlier, and Regeneron’s share of Sanofi antibody profits was 2.57 billion dollars, up from 1.46 billion dollars. By one calculation from the filing, the Sanofi collaboration supplied about four fifths of the quarter’s total revenue increase.
Regeneron’s own product sales grew more slowly. United States net sales of Eylea HD rose 62 percent to 699 million dollars, while legacy Eylea sales in the United States fell 41 percent to 400 million dollars as patients shift to the higher dose product and biosimilar competition builds, leaving combined United States Eylea franchise sales down about 1 percent. Libtayo global sales rose 51 percent to 550 million dollars.
Alongside the results, Regeneron and Sanofi expanded their antibody collaboration to add multiple next generation, long acting immunology antibodies designed to build on Dupixent. The release carries a 1.0 billion dollar upfront payment to be recognized as collaboration revenue in the fourth quarter of 2026. A conflicting secondary account put the upfront at 1.5 billion dollars with up to 4.0 billion dollars in milestones; that version could not be reconciled with the company release and is not relied on here.