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Research Alert: Regn Posts Strong Q1 Fueled By Dupixent And Eylea Hd Amid Manufacturing Issues

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Regeneron delivered robust Q1 2026 results with total revenues of $3.6B (+19% Y/Y) and non-GAAP EPS of $9.47 (+15% Y/Y), beating consensus estimates. The EYLEA franchise continues to transition from traditional EYLEA to EYLEA HD, with HD sales reaching $468M (+52% Y/Y) while traditional sales declined to $473M (-36% Y/Y) due to biosimilar competition. We view the underlying portfolio strength as encouraging, with Dupixent maintaining exceptional momentum at global sales of $4.9B (+33% Y/Y) and physician unit demand for EYLEA HD increasing 10% sequentially despite inventory normalization. Management expects manufacturing disruptions at the Limerick facility to normalize by the end of Q2, lowering full-year GAAP gross margin guidance to 77%-78%. We believe the company's diversified revenue base and deep pipeline of nearly 50 clinical programs, including the recent Otarmeni approval and advancing Factor XI antibody Phase 3 studies, position REGN well for continued growth despite near-term manufacturing headwinds.

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