Regeneron Q2 revenue beats on higher Dupixent, Eylea HD sales

Regeneron Pharmaceuticals

30/07/2026 11:50

Overview
U.S. biotechnology firm's Q2 revenue grew 17% yr/yr, beating analyst expectations
Adjusted EPS for Q2 rose 11% yr/yr, beating analyst expectations
Company repaid Sanofi Development Balance, boosting future collaboration profits

Outlook
Regeneron raised 2026 GAAP gross margin guidance on net product sales to 78%-79% from 77%-78%
Company lowered 2026 capital expenditures forecast to $1.03-$1.1 bln from $1.1-$1.2 bln
Regeneron says collaboration profits will increase from Q3 after full repayment of Sanofi Development Balance

Result Drivers
DUPIXENT SALES - Higher Dupixent sales drove a significant increase in collaboration revenue, with global net sales rising 38%
EYLEA HD DEMAND - U.S. EYLEA HD net sales rose 52% to a record high, driven by increased demand and higher sales volumes
LIBTAYO GROWTH - Libtayo global net sales increased 30%, primarily due to higher sales volumes driven by increased demand

Company press release: ID:nGNX73Cgnj

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$4.29 bln
$3.82 bln (20 Analysts)
Q2 Adjusted EPS
Beat
$14.29
$10.26 (22 Analysts)
Q2 EPS
 
$12.23
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy", 10 "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 $816.79, about 17.5% above its July 29 closing price of $695.42
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 16 three months ago

Reuters Recommended Reads
July 30 - Sanofi lifts sales growth forecast on Dupixent strength in boost for new CEO
July 29 - Biogen beats quarterly estimates as newer drugs drive growth
July 29 - J&J lowers 2026 profit forecast on deal costs, sees further hit in 2027

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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.)