Regeneron Pharmaceuticals (REGN) investor relations material

Business performance and commercial execution

• Achieved strong double-digit growth in Q1, driven by core franchises such as DUPIXENT and LIBTAYO, with EYLEA HD showing momentum after label enhancements.

• Focused on efficient commercial execution and growth for the remainder of the year, with repayment of the Sanofi development balance expected by end of Q2, leading to increased share of collaboration profits in H2.

• EYLEA HD franchise continues to perform well, with strong Q1 revenue and positive outlook for 2026, despite pricing headwinds and inventory fluctuations.

Pipeline and innovation

• Pipeline includes around 50 candidates across multiple therapeutic areas, with near-term opportunities in multiple myeloma, anticoagulation, complement-mediated diseases, and obesity.

• Key upcoming catalysts include regulatory decisions for prefilled syringe, cemdisiran in myasthenia gravis, and garetosmab in FOP, as well as clinical data in complement franchise for PNH and geographic atrophy.

• Long-acting IL-13 antibody has entered phase I, aiming to extend dosing intervals for atopic dermatitis, with additional next-generation I&I assets in development.

Strategic partnerships and M&A

• Open to larger M&A and collaborations, evaluating opportunities based on scientific merit and commercial potential, with recent deals in radiopharmaceuticals (Telix) and Helicon technology (Parabilis).

• Maintains disciplined approach to valuations and competitive dynamics, with flexibility to pursue deals of various sizes and modalities.

• Ongoing discussions with Sanofi to potentially expand collaboration, leveraging strong franchise relationships and exploring new assets.