Regeneron Q4 rev $3.88B (+3%), GAAP EPS $7.86; Dupixent +34% to $4.9B

REGENERON PHARMACEUTICALS, INC.

2025-FY EPS reported $41.48 revenue$14,342,900,000

Q4 2025 total revenue $3.884B (+3% YoY); GAAP diluted EPS $7.86 (vs $8.06 Q4 2024); non-GAAP EPS $11.44 (vs $12.07).
Dupixent global net sales (Sanofi) $4.9B in Q4, +34% YoY; full year $17.8B +26%.
EYLEA HD U.S. net sales $506M (+66%) but total EYLEA franchise fell 28% to $1.1B on competition and patient transition.
FDA approved EYLEA HD for RVO and monthly dosing; new vial filler approved; Libtayo approved as first immunotherapy for adjuvant CSCC.
2026 guidance: GAAP R&D $6.45-6.68B, non-GAAP gross margin 83-84%; quarterly dividend raised to $0.94/share.

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