By Fineline Cube 
Regeneron Pharmaceuticals (NASDAQ: REGN) reported fourth‑quarter 2025 revenues of $3.884 billion , up 3% year‑on‑year (YOY), bringing full‑year revenue to $14.343 billion , a 1% YOY increase. The company’s performance was driven by blockbuster drug growth, offset by competitive pressures on legacy products.
Financial Performance Summary
| Metric | Q4 2025 | Full‑Year 2025 | YOY Growth |
|---|---|---|---|
| Total Revenue | $3.884 B | $14.343 B | +1% |
| EYLEA HD | — | $1.637 B | +36% |
| Standard EYLEA | — | $2.748 B | -42% |
| Dupixent Collaboration | — | $5.884 B | +30% |
Product Performance & Strategic Drivers
| Drug | Full‑Year 2025 Sales | Performance | Key Factors |
|---|---|---|---|
| EYLEA HD | $1.637 B | +36% | Label expansion, new fill solution, patient migration from standard dose |
| Standard EYLEA | $2.748 B | -42% | Competitive pressure, patient switching, loss to compounded bevacizumab |
| Dupixent | $5.884 B (collab) | +30% | New approvals in Japan/Europe, >1.4 M active patients globally |
| Libtayo | — | — | Additional approvals, maintained leadership in non‑melanoma skin cancer |
Strategic Initiatives & Pipeline
Manufacturing Expansion
- Investment: $2 billion for state‑of‑the‑art bulk manufacturing facility in Saratoga Springs, New York
- Jobs: Expected to create 1,000 high‑paying positions
- Timeline: Construction to commence 2026, operational by 2028
Partnership Activation
- Tessera Therapeutics: Collaboration agreement effective January 2026
- Asset: TSRA‑196 for treatment of alpha‑1 antitrypsin deficiency (AATD)
- Strategic Rationale: Expands Regeneron’s genetic medicine pipeline
Market Impact & Commercial Outlook
- EYLEA Franchise: HD formulation’s 36% growth offsets 42% decline in standard dose, stabilizing overall retina market position
- Dupixent Dominance: With >1.4 million active patients, Dupixent is now the world’s most widely used innovative branded antibody, driving collaboration revenue with Sanofi
- Libtayo Expansion: Additional approvals cement leadership in immunotherapy for non‑melanoma skin cancers
- Manufacturing Moat: Saratoga Springs facility will support next‑generation biologics, reducing external dependency
- Revenue Guidance: Analysts project $15.5–16 billion 2026 revenue, driven by Dupixent growth and EYLEA HD market share gains
Forward‑Looking Statements
This brief contains forward‑looking statements regarding revenue projections, manufacturing timelines, and commercial prospects for Regeneron’s portfolio. Actual results may differ due to competitive dynamics, regulatory approvals, and market adoption rates.-Fineline Info & Tech