Overview
- Revenue reached $3.75 billion and adjusted EPS came in at $11.83, both ahead of consensus estimates reported by LSEG.
- Collaboration revenue from Sanofi rose 28% to $1.62 billion, reflecting higher profits tied to stronger Dupixent sales.
- U.S. net sales for Eylea HD plus Eylea fell 28% to $1.12 billion as competition and affordability pressures weighed on volumes despite $431 million from Eylea HD.
- The FDA issued a Complete Response Letter for the Eylea HD prefilled syringe over unresolved Catalent inspection findings, and Regeneron plans to file an application by January 2026 to add a new syringe filler.
- Regeneron flagged late‑November FDA action for Eylea HD every‑four‑week dosing and an expected late‑December decision on an additional vial filler, and it trimmed 2025 GAAP gross margin guidance to about 82% while reaffirming roughly 86% on an adjusted basis.