---
schema_version: "secwatch.filing_event.v1"
accession: "0001804220-25-000020"
form_type: "8-K"
ticker: "REGN"
cik: "0000872589"
company_name: "REGENERON PHARMACEUTICALS, INC."
filed_at: "2025-04-29T23:59:59+00:00"
generated_at: "2026-05-23T04:30:00.226492+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Regeneron Q1 revenue down 4%, non-GAAP EPS falls 14%; lowers gross margin guidance

## Summary
- 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.

## SEC filing metadata
- accession: 0001804220-25-000020
- form_type: 8-K
- ticker: REGN
- cik: 0000872589
- company_name: REGENERON PHARMACEUTICALS, INC.
- filed_at: 2025-04-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/872589/000180422025000020/0001804220-25-000020-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/872589/000180422025000020/regn-20250429.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001804220-25-000020
- JSON: https://secwatch.observer/filing/0001804220-25-000020.json
- Plain text: https://secwatch.observer/filing/0001804220-25-000020.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.