Regeneron Exceeds Quarterly Estimates Driven by Robust Dupixent Demand

• Dupixent sales surged 33% to $4.88 billion, beating analyst estimates of $4.59 billion, as the drug remains the highest prescribed biologic among U.S. dermatologists and pulmonologists
• Total Eylea sales fell 10% to $941 million due to competition, though the higher-dose Eylea HD version saw 52% growth to $468 million as Regeneron attempts to transition patients
• Total quarterly revenue reached $3.61 billion versus $3.49 billion expected, with adjusted profit of $9.47 per share, and the board authorized a new $3 billion share buyback program

Regeneron Exceeds Q1 Estimates on Strong Dupixent Performance

Regeneron Pharmaceuticals reported first-quarter results on April 29 that surpassed Wall Street expectations, driven primarily by robust demand for its eczema drug Dupixent and cancer treatment Libtayo, while offsetting declining sales in its eye drug franchise.

Key Financial Performance:

• Total quarterly revenue reached $3.61 billion, exceeding analyst estimates of $3.49 billion
• Adjusted profit came in at $9.47 per share, beating expectations
• The board authorized a new $3 billion share repurchase program

Product Performance:

Dupixent, co-developed with Sanofi, delivered standout results with sales rising 33% to $4.88 billion, surpassing estimates of $4.59 billion. The drug remains the most prescribed biologic among U.S. dermatologists and pulmonologists.

Libtayo cancer treatment sales surged 54% to $438 million.

Total Eylea sales (including the high-dose version) declined 10% to $941 million, reflecting competitive pressures from cheaper alternatives and Roche's Vabysmo. However, Eylea HD sales grew 52% to $468 million as Regeneron works to transition patients to the higher-dose formulation.

Regulatory Developments:

The FDA missed its April 2026 target date for approving a second contract manufacturer for Eylea HD. A decision is now anticipated in Q2. Last year, the agency declined approval for a pre-filled syringe version due to manufacturing issues at Catalent's Indiana facility.

Strategic Moves:

Regeneron recently settled with the U.S. government, agreeing to lower Medicaid prices and sell cholesterol drug Praluent at reduced prices through TrumpRx.gov.

The Tarrytown, New York-based company continues leveraging Dupixent's momentum to offset pressure in its eye drug portfolio.