Regeneron Pharmaceuticals, Inc. (REGN) stock — is it a good business?

Regeneron Pharmaceuticals, Inc. (REGN) stock — is it a good business? — InspectStocks

Just reported

Q3 2026 results

From Regeneron Pharmaceuticals's results release of October 30, 2026; its quarterly report has since been filed.

Revenue
Actual
$5.12B
+36% y/y
+19% q/q
Guided
—
No guide given
EPS, GAAP
Actual
$18.45
+35% y/y
+51% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$2.05B
+99% y/y
+58% q/q
Guided
—
No guide given

Set against the company's own guidance and the same quarter a year earlier, not analysts' estimates, which we do not hold. Adjusted figures are the company's own non-GAAP measures, as stated in the release.

The full earnings report →

How it makes money

Collaboration revenue47%
Product revenue38%
Libtayo net product sales11%
Product and service other4%
Lynozyfic0%

Shares of revenue are estimates for quarter ended March 31, 2026, not figures from a filing.

Competes with

RHHBYRoche (through Genentech)
AMGNAmgen
A
Size
$252.6B
Margin
24.1%
LLYEli Lilly
A
Size
$1.35T
Margin
31.9%
ABBVAbbVie
B
Size
$520.5B
Margin
15.7%
MRKMerck & Co.
A
Size
$362.2B
Margin
3.6%
AZNAstraZeneca
B
Size
$288B
Margin
16.4%

What it sells6

Dupixent
An injected medicine used for several allergic and inflammatory conditions, including eczema, asthma, and chronic obstructive pulmonary disease.
EYLEA HD
An injection into the eye for retinal diseases, including wet age-related macular degeneration and diabetic macular edema.
EYLEA
An injection into the eye for retinal diseases, including wet age-related macular degeneration and diabetic macular edema.

Show 3 more

Libtayo
An immune-system cancer medicine used for several cancers, including certain skin cancers and lung cancer.
Praluent
An injected medicine that lowers cholesterol and reduces cardiovascular risk in some patients.
Otarmeni
A gene therapy for hearing loss caused by changes in the otoferlin gene.

Who buys it2

Drug wholesalers and specialty distributors buy medicines for supply to pharmacies, hospitals, and other healthcare providers.
Pharmacies, hospitals, government agencies, physicians, and other healthcare providers buy or use Regeneron medicines for patients.

What it stands on, and what could break it

What the business leans on

1A small number of customers together accounted for 77% (year ended December 31, 2025, high) of gross product revenue.
2Sales depend substantially on Dupixent, EYLEA HD, and EYLEA, and on continued commercial work with Sanofi and Bayer.
3Some medicines rely on single-source suppliers and on collaborators or contractors for filling, packaging, testing, and distribution.
4Sales depend on health insurers and government programs deciding whether to cover medicines and how much to reimburse.

What could go wrong

1EYLEA faces competition from other retinal medicines and biosimilars; the company has reported lower EYLEA sales as patients switch to EYLEA HD and other treatments compete for use.
2A large share of revenue depends on a few medicines and on partner arrangements, so lower sales, reduced reimbursement, or a change to a collaboration could materially affect revenue.
3Clinical studies can fail and regulators can delay or reject applications; recent examples include a fianlimab cancer study that missed its main goal and discontinued development of itepekimab in several respiratory conditions.

Full financial statements →

About Regeneron Pharmaceuticals, Inc.

Regeneron discovers, develops, makes, and sells medicines for conditions including eye diseases, allergic and inflammatory diseases, and cancer. Its medicines include Dupixent for inflammatory diseases, EYLEA for retinal conditions, and Libtayo for cancer. It sells some medicines itself and shares sales profits with partners such as Sanofi and Bayer, which also sell certain medicines.

Head office: Tarrytown, New York
Founded: 1988
Listed on: NASDAQ
Financial year ends: December 31

Built from Regeneron Pharmaceuticals, Inc.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Just reported

Q3 2026 results

From Regeneron Pharmaceuticals's results release of October 30, 2026; its quarterly report has since been filed.

Revenue
Actual
$5.12B
+36% y/y
+19% q/q
Guided
—
No guide given
EPS, GAAP
Actual
$18.45
+35% y/y
+51% q/q
Guided
—
No guide given
Operating income, GAAP
Actual
$2.05B
+99% y/y
+58% q/q
Guided
—
No guide given

The full earnings report →

Keep exploring

The themes Regeneron Pharmaceuticals is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Highest-graded in Biotechnology

Graded A or B and worth $2B or more: A first, then the largest.

All 355 graded companies in its industry

Grade rose recently in Healthcare

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

All grade rises