Regeneron Revenue Jumps 36% to $5.116 Billion in Third Quarter
Key Facts
Regeneron revenue jumped 36% year over year to $5.116 billion in the third quarter of 2026, compared with $3.754 billion in the same period last year, according to the company’s results. The results came as revenue from its collaboration with Sanofi grew 68% to $2.724 billion, from $1.617 billion a year earlier. In a separate disclosure on growth drivers, Lilly reported diluted earnings per share of $7.22 for the quarter, versus $6.21 a year earlier. The company also raised its 2026 revenue guidance range to $91–92 billion. NRx said on October 30 that the FDA had approved its application to market preservative-free ketamine injection ahead of the target date of November 10, according to the draft correction and the substance of the company’s statement.
Lilly attributed its quarterly revenue growth to a 53% year-over-year increase in sales volume, partly offset by a 15% decline in realized prices. The company said Mounjaro and Zepbound drove revenue growth amid expanding sales volumes. Non-GAAP earnings per share were $7.48, compared with $7.02 in the third quarter of 2025. Lilly raised the midpoint of its annual revenue guidance by $5.5 billion, to the new range of $91–92 billion. The update reflects the company’s expectations for total revenue in 2026, while its profit outlook remained separate from this revision, according to its earnings announcement.
Regeneron’s results showed divergent performance among its main eye-care products in the U.S. market. Sales of EYLEA HD rose 62% to $699 million in the third quarter, compared with $431 million a year earlier. By contrast, EYLEA sales fell 41% to $400 million, from $681 million in the year-earlier period. Global sales of Dupixent, which Sanofi reports, rose 35% to $6.5 billion during the quarter. The figures highlight differing trajectories across the company’s portfolio alongside the increase in total revenue and revenue from its collaboration with Sanofi.
Regeneron said revenue from its collaboration with Sanofi grew at a time when the development balance owed to its partner was no longer reducing that revenue. The company said the balance was paid in full by the end of the second quarter of 2026, and its impact ceased beginning in the third quarter. In October, the companies expanded their partnership to include next-generation long-acting antibodies. Under the agreement, Regeneron received an upfront payment of $1 billion and may be eligible for up to $7 billion in additional milestone payments. The agreement adds a confirmed financial payment to collaboration revenue, with further amounts contingent on the achievement of specified milestones.
On drug development, Regeneron expects an FDA decision next month on cemdisiran for generalized myasthenia gravis, Investing.com reported, citing the company. NRx said its ANDA for preservative-free ketamine injection was approved on October 30, ahead of the target date of November 10. The company’s chief executive said the approval allows it to label the product and supply it to U.S. hospitals and clinics. He added that the company has commercial inventory manufactured and ready, according to the statement. NRx said ketamine injection has faced supply shortages since 2018 and that its product is available for supply after labeling.
Documented market moves varied among the companies, and the available prices do not represent the October 30 session close. Lilly shares closed at $1373.7 on October 29, after $1288.3 in the previous session, according to EL7 data. The stock had risen more than 6% in afternoon trading on October 29 to $1,369.79, after briefly reaching a record $1,408, according to a Reuters report carried by MarketScreener. Regeneron shares closed at $818.77 on October 29, compared with $813.27 on October 28, according to EL7 data. The information provided includes no documented price for NRx shares or movement after the approval announcement.