earnings
confidence high
sentiment negative
materiality 0.80
Regeneron Q1 revenue down 4%, non-GAAP EPS falls 14%; lowers gross margin guidance
REGENERON PHARMACEUTICALS, INC.
2025-Q1 EPS reported
$7.27
revenue$3,028,700,000
- Q1 2025 revenue $3.03B (-4% YoY); GAAP EPS $7.27 (+16%), non-GAAP EPS $8.22 (-14%).
- Dupixent global net sales (Sanofi) up 19% to $3.67B; EYLEA HD US up 54% but total EYLEA franchise down 26% to $1.04B.
- FDA issued CRL for EYLEA HD pre-filled syringe (non-safety, third-party supplier issue) and separate CRL denying extended dosing beyond every 16 weeks.
- Lowers 2025 GAAP gross margin guidance to 83%-84%, non-GAAP to 86%-87% (prior 84%-85% and 87%-88%).
- Settled EYLEA biosimilar litigation with Biocon; launch precluded until H2 2026; entered 10-year manufacturing agreement with Fujifilm.