Regeneron Pharmaceuticals, Inc. Q2 2026 Earnings Recap

Regeneron's stock rose 9.7% following a Q2 report that delivered strong top-line growth led by blockbuster product sales, notably Dupixent and EYLEA HD, which outpaced expectations and reinforced confidence in the company’s commercial momentum and pipeline potential.

Key Takeaways

• Total revenues grew 17% year-over-year, driven primarily by Dupixent’s global net sales of $6 billion, up 38% on a constant currency basis.
• EYLEA HD U.S. net sales nearly $600 million, up 52% year-over-year, with physician demand increasing 24% sequentially, marking the first quarter EYLEA HD sales surpassed the original EYLEA.
• Libtayo sales hit nearly $500 million globally, up 29% constant currency, supported by strong adoption in non-melanoma skin cancer and increased market share in non-small cell lung cancer (20% of new-to-brand U.S. prescriptions).
• Management highlighted a robust, diversified pipeline with promising early clinical data on follow-on Dupixent programs and next-generation interleukin-13 antibody candidates.
• Ongoing work with the FDA and partners targets year-end approval of a new EYLEA HD prefilled syringe, expected to further accelerate product adoption.