Regeneron Q2 revenue beats on higher Dupixent, Eylea HD sales

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

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 - JJ 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.)