Regeneron shares drop 5.5% despite Q1 beat and $3B buyback plan

Company Fundamentals

29 Apr 2026

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Bearish

Regeneron Pharmaceuticals reported a strong first quarter with revenue up 19% to $3.605 billion and adjusted earnings of $9.47 per share, beating expectations. Growth was driven by a 33% rise in Dupixent sales and a 36% increase in Sanofi collaboration revenue. However, shares fell over 5.5% due to a 12% decline in Eylea eye therapy sales and a lowered GAAP gross margin forecast for 2026. The company announced a $3 billion share repurchase program but kept its overall 2026 outlook mostly unchanged.

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