Regeneron's first quarter 2026 revenue grew 19% to $3.6B, beating estimates on strong Dupixent performance.

Regeneron reported first quarter 2026 revenues of $3.61 billion, up 19% year-over-year, and non-GAAP diluted EPS of $9.47. The results significantly exceeded analyst expectations, primarily driven by strong growth in collaboration revenue from Dupixent and higher sales of its cancer drug Libtayo.

Key Highlights

• Global net sales of Dupixent, recorded by partner Sanofi, grew 33% to $4.9 billion, which drove a 36% increase in collaboration revenue from Sanofi to $1.61 billion.
• The total U.S. Eylea franchise saw net sales decline 10% to $941 million, as 52% growth in Eylea HD sales to $468 million was offset by a 36% decline in the legacy Eylea formulation.
• The company lowered its full-year 2026 GAAP gross margin guidance to a range of 77%-78% from 79%-80%, citing unabsorbed costs from a temporary manufacturing interruption at its Ireland facility.