Regeneron Pharmaceuticals shares rose 11.46% to $912.63 at publication on Friday after the company released better-than-expected third-quarter 2026 results. Benzinga Pro data showed Regeneron shares reaching a new 52-week high. Regeneron reported adjusted earnings per share of $20.07, a 70% increase from a year earlier, against an analyst consensus of $16.19. Revenue increased 36% to $5,116 million, exceeding Wall Street's $4,542 million estimate.
Higher revenue from the Sanofi collaboration and record quarterly sales of Dupixent, Eylea HD and Libtayo supported growth. Eylea HD and Libtayo set sales records for a second straight quarter. Leonard Schleifer, co-chair, president and CEO, described the quarter as outstanding and highlighted record net sales for all three drugs. Chief Financial Officer Christopher Fenimore said commercial performance and higher Sanofi collaboration revenue positioned Regeneron for one of the company's strongest years ever. Full repayment of the development balance in the second quarter enabled Regeneron to recognize the company's entire share of collaboration profits in the third quarter, increasing Sanofi collaboration revenue.
Eylea HD generated record U.S. quarterly net sales of $699 million, up 62% from a year earlier. Eylea HD now represents nearly two-thirds of Regeneron's U.S. retinal franchise. Schleifer said during the earnings call that physician unit demand increased 20% sequentially, supported by longer dosing intervals and broader treatment options. Libtayo generated record global net sales of $550 million, an increase of 51% in constant currency.
Regeneron forecasts approximately 10% sequential growth in Eylea HD physician unit demand in the fourth quarter. However, ongoing pricing pressure could partly offset that growth. Regeneron expects full-year Eylea HD net sales to rise more than 50% from 2025. Regeneron forecasts a low- to mid-teens sequential decrease in fourth-quarter demand for the older Eylea treatment. Regeneron faces greater competition from additional aflibercept 2-milligram biosimilars. Despite those challenges, Regeneron expects potential FDA approval for an Eylea HD prefilled syringe to support growth from 2027 onward.
Regeneron Reports Record Q3 2026 Earnings, Shares Jump 11.46%
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Summary
Regeneron’s Q3 2026 results fueled ecosystem growth, with shares rising 11.46% to $912.63. The biotech giant posted adjusted EPS of $20.07, up 70% year-over-year, and revenue of $5,116 million, a 36% increase. Dupixent, Eylea HD, and Libtayo drove record sales, while the Sanofi collaboration boosted performance. On-chain news shows strong buying pressure amid the rally.
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