Regeneron stock: Q3 revenue rises 36% as Sanofi alliance expands

Regeneron reported a strong third quarter on October 30, with revenue growth and an expanded antibody alliance with Sanofi putting commercial execution and pipeline depth at the center of the investment case. The company announced the results in its third-quarter 2026 results release.

Regeneron stock traded at 839.00 euros on Lang & Schwarz at 14:40 CET on Thursday, November 5, 2026. The real-time quote of Regeneron stock provides the latest trading indication.

Revenue growth lifts quarterly earnings

Total revenue for the quarter ended September 30 rose 36 percent year over year to USD 5.116 billion. GAAP net income increased 33 percent to USD 1.949 billion, while diluted GAAP earnings per share rose 35 percent to USD 18.45.

Regeneron's adjusted performance was stronger still. Non-GAAP net income climbed 67 percent to USD 2.150 billion, and non-GAAP diluted earnings per share advanced 70 percent to USD 20.07. The company said this marked its third consecutive quarter of double-digit growth in both revenue and non-GAAP earnings per share.

Sanofi collaboration revenue reached USD 2.724 billion, up 68 percent from the year-earlier quarter. Regeneron attributed the increase mainly to a higher share of profits from antibody commercialization, supported by higher Dupixent sales and the full repayment of Sanofi's development balance at the end of the second quarter.

Sanofi deal expands the pipeline

In October, Regeneron and Sanofi amended their long-running antibody collaboration. The revised agreement adds four Regeneron-invented, next-generation long-acting antibodies targeting the interleukin-13, interleukin-4, interleukin-4 receptor alpha and combined interleukin-4 and interleukin-13 pathways.

Regeneron received an upfront payment of USD 1.0 billion, which it expects to recognize as collaboration revenue in the fourth quarter of 2026. The company may receive up to an additional USD 7.0 billion in development, regulatory and sales-based milestones. The partners will share development and commercialization costs equally and split future global profits equally if the programs reach the market.

The lead program, REGN20423, is in a Phase 1 study for atopic dermatitis. Regeneron expects the other three programs to enter clinical studies in 2027. The agreement therefore adds potential future products while also creating a near-term revenue item, although the milestone payments beyond the upfront amount depend on development, regulatory and commercial progress.

Commercial brands remain central

Dupixent global sales rose 35 percent to USD 6.5 billion. EYLEA HD U.S. sales increased 62 percent to USD 699 million, while Libtayo global sales advanced 51 percent to USD 550 million. The company said the EYLEA HD increase reflected higher sales volumes, partly offset by a lower net selling price.

Regeneron's 2026 guidance also changed in several cost categories. The company raised its GAAP research and development expense range to USD 6.600 billion to USD 6.735 billion and its non-GAAP range to USD 6.050 billion to USD 6.150 billion. At the same time, it lowered the GAAP selling, general and administrative expense range to USD 2.730 billion to USD 2.860 billion and the non-GAAP range to USD 2.400 billion to USD 2.500 billion.

Management said the pipeline contains about 50 product candidates. The company expects an FDA decision on cemdisiran in generalized myasthenia gravis in December, while several Phase 3 programs continue in multiple myeloma, lymphoma, anticoagulation and obesity.

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