Regeneron Pharmaceuticals said net product sales of EYLEA HD increased for the 3 and 9 months ended 2025 due to higher sales volumes, partly offset by a lower net selling price. It said net product sales of EYLEA were impacted by lower sales volumes and a lower net selling price.

10-QQuarterly reportFiled Oct 28, 2025Period of report Sep 30, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Regeneron Pharmaceuticals said net product sales of EYLEA HD increased for the 3 and 9 months ended 2025 due to higher sales volumes, partly offset by a lower net selling price. It said net product sales of EYLEA were impacted by lower sales volumes and a lower net selling price.
The company cited higher profits associated with an increase in Dupixent sales as a driver of the increase in its share of profits for the 3 and 9 months ended 2025, and lower profits associated with a decrease in EYLEA sales outside the United States as a driver of the decrease in its share of profits.
Regeneron said acquired in-process research and development expenses for the 3 and 9 months ended 2025 included an upfront payment of $80.0 million in connection with a license agreement with Hansoh Pharmaceuticals Group Company Limited. The company also said it recognized $44.5 million in expense related to the remeasurement of U.S. net deferred tax assets in connection with the signing of the OBBBA in Q3 2025.
Regeneron said it expects full-year 2025 capital expenditures of $850 million to $890 million. As of September 30, 2025, the remaining authorization under its share repurchase program was $2.156 billion, and the company declared quarterly dividends of $0.88 per share for each quarter in 2025 from 1 through Q3.

Key figures

Quarter ended September 30, 2025

Revenue: $3.8B
Operating income: $1.0B
Net income: $1.5B
EPS: $13.62

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

EYLEA HD and EYLEA Net Product Sales Drivers

Regeneron Pharmaceuticals said net product sales of EYLEA HD increased for the 3 and 9 months ended 2025 due to higher sales volumes, partly offset by a lower net selling price. It said net product sales of EYLEA were impacted by lower sales volumes and a lower net selling price.

Source · Based on the MD&A text of the filing

Sanofi and Bayer Collaboration Profit Share Changes

The company cited higher profits associated with an increase in Dupixent sales as a driver of the increase in its share of profits for the 3 and 9 months ended 2025, and lower profits associated with a decrease in EYLEA sales outside the United States as a driver of the decrease in its share of profits.

Source · Based on the MD&A text of the filing

Hansoh License Upfront Payment and OBBBA Tax Expense

Regeneron said acquired in-process research and development expenses for the 3 and 9 months ended 2025 included an upfront payment of $80.0 million in connection with a license agreement with Hansoh Pharmaceuticals Group Company Limited. The company also said it recognized $44.5 million in expense related to the remeasurement of U.S. net deferred tax assets in connection with the signing of the OBBBA in Q3 2025.

Source · Based on the MD&A text of the filing

Capital Expenditure Outlook and Share Repurchase and Dividend Programs

Regeneron said it expects full-year 2025 capital expenditures of $850 million to $890 million. As of September 30, 2025, the remaining authorization under its share repurchase program was $2.156 billion, and the company declared quarterly dividends of $0.88 per share for each quarter in 2025 from 1 through Q3.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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