Regeneron Beats Second-Quarter Expectations as Dupixent Growth Fuels Strong Results

Regeneron Beats Second-Quarter Expectations as Dupixent Growth Fuels Strong Results

Fiona Craig

Thu, July 30, 2026 at 5:00 PM GMT+3 2 min read

• REGN +3.29%
• SNY +0.44%

Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) reported stronger-than-expected second-quarter results, comfortably surpassing Wall Street forecasts for both earnings and revenue. The company's performance was driven by continued momentum across its commercial portfolio, led by strong growth in Dupixent, helping lift its shares more than 3% in premarket trading on Thursday.

The biotechnology company also updated its full-year financial guidance following the quarter.

Earnings and Revenue Outperform Forecasts

Regeneron posted adjusted earnings of $14.29 per share for the second quarter, exceeding analysts' consensus estimate of $10.58.

Revenue totaled $4.29 billion, ahead of the expected $3.8 billion and up 17% from $3.68 billion in the same quarter last year.

Growth was supported by strong sales across several of the company's leading therapies.

Global Dupixent net sales, reported by Sanofi, increased 38% year over year to $6.0 billion.

In the United States, EYLEA HD generated net sales of $596 million, representing a 52% increase, while global sales of Libtayo climbed 30% to $489 million.

Dupixent Partnership Continues to Drive Growth

"Regeneron delivered another quarter of strong financial performance, with double-digit top- and bottom-line growth reflecting the continued strength of our commercial portfolio and the potential of our pipeline," said Leonard S. Schleifer, M.D., Ph.D., Board co-Chair, President and Chief Executive Officer.

Revenue from Regeneron's collaboration with Sanofi rose 51% to $2.17 billion during the quarter, primarily reflecting higher profits generated from Dupixent sales.

The company also announced that it fully repaid the Sanofi Development Balance by the end of the second quarter, a milestone expected to increase collaboration profits beginning in the third quarter.

Company Updates 2026 Guidance

Regeneron revised several elements of its financial outlook for 2026.

The company now expects adjusted research and development expenses to range between $5.95 billion and $6.05 billion, compared with its previous forecast of $5.90 billion to $6.10 billion.

Adjusted selling, general and administrative expenses are now projected to be between $2.50 billion and $2.60 billion, narrowing the prior guidance range of $2.50 billion to $2.65 billion.

Regeneron also raised its adjusted gross margin forecast on net product sales to between 84% and 85%, up from its previous expectation of 83% to 84%.

Regeneron Pharmaceuticals stock price