Regeneron Revenue Jumps 36% as Dupixent Grows; Sanofi Pays $1 Billion to Expand Alliance

Published October 30, 2026 at 9:20 AM EDT

Regeneron's third-quarter revenue jumped 36% to $5.1 billion as its share of Dupixent profits stepped up, and the biotech expanded its partnership with Sanofi in a deal that brings $1 billion up front, the company said Friday.

Total revenue rose to $5.116 billion from $3.754 billion a year earlier, according to the earnings release filed with an 8-K. GAAP net income rose 33% to $1.949 billion, or $18.45 a diluted share, from $13.62. Non-GAAP earnings per share climbed 70% to $20.07 from $11.83.

Dupixent and the Sanofi step-up

Global Dupixent sales, which Sanofi records, rose 35% to $6.5 billion. Chief Financial Officer Christopher Fenimore said the quarter benefited from an expected step-up in Sanofi collaboration revenue in the first full quarter after repayment of the so-called development balance owed under the companies' partnership.

Regeneron's other products also grew. U.S. sales of the eye drug Eylea HD rose 62% to $699 million, and global sales of the cancer drug Libtayo increased 51% to $550 million.

Expanded Sanofi deal

Regeneron said it widened its Sanofi alliance to include four of its next-generation, long-acting antibodies designed to build on Dupixent. Sanofi will pay $1.0 billion up front, which Regeneron expects to recognize as collaboration revenue in the fourth quarter, and Regeneron could receive up to $7.0 billion more in future milestones.

The company also said the Food and Drug Administration approved Pasatru, also known as garetosmab, for fibrodysplasia ossificans progressiva, a rare disease in which muscle and connective tissue turn to bone.

Fenimore said the quarter marked the third straight quarter of double-digit growth in both revenue and non-GAAP EPS, "positioning us to deliver one of our strongest years ever."

By the numbers

$5.116 billion: third-quarter revenue, up 36%
$20.07: non-GAAP EPS, up 70%
$18.45: GAAP diluted EPS, up 35%
$6.5 billion: global Dupixent sales, up 35%
$699 million: U.S. Eylea HD sales, up 62%
$1.0 billion: Sanofi up-front payment, with up to $7.0 billion in milestones

Sources

Regeneron Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 30, 2026 (accession 0000872589-26-000032)

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