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1. Company Snapshot

1.a. Company Description

Regeneron Pharmaceuticals, Inc.discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide.The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; and diabetic retinopathy, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.


It also provides Dupixent injection to treat atopic dermatitis and asthma in adults and pediatrics; Libtayo injection to treat metastatic or locally advanced cutaneous squamous cell carcinoma;Praluent injection for heterozygous familial hypercholesterolemia or clinical atherosclerotic cardiovascular disease in adults; REGEN-COV for covid-19; and Kevzara solution for treating rheumatoid arthritis in adults.In addition, the company offers Inmazeb injection for infection caused by Zaire ebolavirus; ARCALYST injection for cryopyrin-associated periodic syndromes, including familial cold auto-inflammatory syndrome and muckle-wells syndrome; and ZALTRAP injection for intravenous infusion to treat metastatic colorectal cancer; and develops product candidates for treating patients with eye, allergic and inflammatory, cardiovascular and metabolic, infectious, and rare diseases; and cancer, pain, and hematologic conditions.It has collaboration and license agreements with Sanofi; Bayer; Teva Pharmaceutical Industries Ltd.; Mitsubishi Tanabe Pharma Corporation; Alnylam Pharmaceuticals, Inc.; Roche Pharmaceuticals; and Kiniksa Pharmaceuticals, Ltd., as well as has an agreement with the U.S. Department of Health and Human Services, as well as with Zai Lab Limited; Intellia Therapeutics, Inc.; Biomedical Advanced Research Development Authority; and AstraZeneca PLC.


The company was incorporated in 1988 and is headquartered in Tarrytown, New York.

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1.b. Last Insights on REGN

Regeneron Pharmaceuticals' recent performance was driven by strong Q3 earnings, with quarterly earnings of $11.83 per share beating estimates. The company's Dupixent and oncology growth offset Eylea/Eylea HD declines. A robust pipeline and upcoming catalysts, including Phase 3 trial results for LAG3 melanoma treatment and Eylea updates, support future revenue and margin expansion. Institutional investors, such as AXQ Capital LP and Bronte Capital Management Pty Ltd, have increased their stakes in the company. Positive news from the FDA has also contributed to the stock's recent surge.

1.c. Company Highlights

2. Regeneron Pharmaceuticals' Strong Q4 2025 Earnings Driven by Dupixent and EYLEA HD Growth

Regeneron Pharmaceuticals, Inc.'s fourth quarter 2025 revenue rose 3% year over year to $3.9 billion, driven by double-digit net sales growth of its three leading products. Earnings per share (EPS) came in at $11.44, beating analyst estimates of $10.74. The company's commercial portfolio delivered strong growth in 2025, with Dupixent's global net sales increasing 32% to $4.9 billion in the fourth quarter and $17.8 billion for the full year 2025. EYLEA HD in the United States grew by 66% to $506 million in the fourth quarter and $1.6 billion for the full year 2025.

Publication Date: Feb -02

📋 Highlights
  • Revenue Growth: Q4 revenue rose 3% YoY to $3.9 billion, driven by Dupixent ($4.9 billion annual sales) and EYLEA HD ($1.6 billion annual sales).
  • Dupixent Expansion: Global net sales grew 32% YoY to $4.9 billion in Q4, with full-year sales reaching $17.8 billion.
  • Shareholder Returns: Returned $3.8 billion in 2025 via $3.4 billion share buybacks and $400 million dividends, with $0.94/share dividend authorized for March.
  • Pipeline Advancements: Aiming for 4 FDA approvals in 2026, including EYLEA HD prefilled syringe and 3 new molecular entities, plus 18 new Phase III trials.
  • R&D Investment: 2026 R&D spend projected at $5.9–6.1 billion, with gross margin expected to remain robust at 83–84% and CAPEX at $1.1–1.3 billion.

Pipeline Progress and Upcoming Catalysts

Regeneron's pipeline is expected to generate clinical data over the next few years, spanning oncology, hematology, complement-mediated diseases, anticoagulation, and obesity. The company is advancing several next-generation therapeutic approaches in immunology and inflammation, including long-acting antibodies targeting IL-13, IL-4, and a bispecific antibody targeting both IL-4 and IL-13. A regulatory decision is expected in the first half of this year for the company's DV auto gene therapy, which has shown meaningful hearing gain in 11 of 12 treated children.

2026 Guidance and Research and Development Investments

The company expects 2026 R&D spend to be in the range of $5.9 billion to $6.1 billion, driven by investments in its expanding late-stage pipeline. SG&A is expected to be in the range of $2.5 billion to $2.65 billion, reflecting investments to support the ongoing launches of Libtayo and other potential launches. The company's guidance suggests a continued focus on investing in its pipeline and commercial capabilities.

Valuation and Dividend Yield

Regeneron Pharmaceuticals' current valuation metrics include a P/E Ratio of 16.94, P/S Ratio of 5.34, and Dividend Yield of 0.47%. Analysts estimate next year's revenue growth at 9.7%. The company's return of $3.8 billion to shareholders in 2025, primarily through share repurchases and cash dividends, demonstrates its commitment to returning capital to shareholders. The authorized quarterly dividend of $0.94 per share, payable in March, is an additional indication of the company's focus on shareholder returns.

Pipeline Assets and Potential Blockbusters

The company's pipeline assets, such as the PCSK9/GLP-1 combination therapy and the Factor XI antibody program, have the potential to be significant contributors to future growth. The PCSK9/GLP-1 combination therapy, which is entering Phase 3 trials, may offer patients a differentiated way to achieve weight loss and reduce cardiovascular risk. The company's confidence in moving its GLP-1/GIP asset into Phase 3 trials stems from its potential to be combined with PCSK9 inhibitors, which could provide a unique advantage.

3. NewsRoom

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These Analysts Revise Their Forecasts On Regeneron Pharmaceuticals After Q4 Results

Feb -02

Source: benzinga.com

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EYLEA HD® (aflibercept) Injection 8 mg Presentations at Angiogenesis 2026 Underscore Strength of its Clinical Profile for the Treatment of Serious Retinal Diseases

Feb -02

Source: globenewswire.com

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Great Lakes Advisors LLC Makes New Investment in Regeneron Pharmaceuticals, Inc. $REGN

Feb -02

Source: defenseworld.net

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Regeneron: Expect Double-Digit Growth In 2026

Jan -31

Source: seekingalpha.com

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Regeneron Pharmaceuticals Inc (REGN) Q4 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic Advancements

Jan -30

Source: gurufocus.com

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Regeneron Pharmaceuticals, Inc. (REGN) Q4 2025 Earnings Call Transcript

Jan -30

Source: seekingalpha.com

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Regeneron bets added cholesterol benefit will help its obesity drug stand out

Jan -30

Source: reuters.com

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Regeneron (REGN) Reports Q4 Earnings: What Key Metrics Have to Say

Jan -30

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (12.30%)

6. Segments

Discovery, Development, and Commercialization of Medicines for Serious Diseases

Expected Growth: 12.3%

Regeneron's innovative pipeline and commercialization of medicines for serious diseases drive growth, with increasing focus on ophthalmology, oncology, and immunology.

7. Detailed Products

EYLEA

A vascular endothelial growth factor (VEGF) inhibitor used to treat wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy.

Dupixent

A monoclonal antibody that inhibits the action of interleukin-4 and interleukin-13, used to treat moderate-to-severe atopic dermatitis and asthma.

Praluent

A proprotein convertase subtilisin/kexin type 9 (PCSK9) inhibitor used to treat high cholesterol.

Libtayo

A programmed death receptor-1 (PD-1) inhibitor used to treat cutaneous squamous cell carcinoma.

Inmazeb

A monoclonal antibody used to treat Zaire ebolavirus infection.

Evkeeza

A monoclonal antibody used to treat homozygous familial hypercholesterolemia.

8. Regeneron Pharmaceuticals, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Regeneron Pharmaceuticals, Inc. has a low threat of substitutes due to its unique biotechnology products and strong research and development capabilities.

Bargaining Power Of Customers

Regeneron Pharmaceuticals, Inc. has a medium bargaining power of customers due to the presence of a large number of customers, but the company's strong brand reputation and product offerings mitigate this power.

Bargaining Power Of Suppliers

Regeneron Pharmaceuticals, Inc. has a low bargaining power of suppliers due to its strong relationships with suppliers and its ability to negotiate favorable terms.

Threat Of New Entrants

Regeneron Pharmaceuticals, Inc. has a high threat of new entrants due to the growing demand for biotechnology products and the increasing number of new entrants in the market.

Intensity Of Rivalry

Regeneron Pharmaceuticals, Inc. operates in a highly competitive industry with many established players, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 9.43%
Debt Cost 3.95%
Equity Weight 90.57%
Equity Cost 4.78%
WACC 4.70%
Leverage 10.41%

11. Quality Control: Regeneron Pharmaceuticals, Inc. passed 9 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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AbbVie

A-Score: 6.7/10

Value: 3.1

Growth: 4.7

Quality: 7.2

Yield: 7.0

Momentum: 9.5

Volatility: 9.0

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McKesson

A-Score: 6.1/10

Value: 5.4

Growth: 8.3

Quality: 4.5

Yield: 0.0

Momentum: 9.5

Volatility: 8.7

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Innoviva

A-Score: 5.5/10

Value: 4.7

Growth: 5.4

Quality: 6.6

Yield: 0.0

Momentum: 8.0

Volatility: 8.0

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Regeneron Pharmaceuticals

A-Score: 4.9/10

Value: 4.0

Growth: 6.4

Quality: 8.8

Yield: 0.0

Momentum: 4.0

Volatility: 6.3

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Vertex Pharmaceuticals

A-Score: 4.0/10

Value: 1.5

Growth: 3.8

Quality: 8.9

Yield: 0.0

Momentum: 3.5

Volatility: 6.7

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Moderna

A-Score: 3.0/10

Value: 7.7

Growth: 2.3

Quality: 4.8

Yield: 0.0

Momentum: 1.0

Volatility: 2.3

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

755.02$

Current Price

755.02$

Potential

-0.00%

Expected Cash-Flows