Regeneron Pharmaceuticals, Inc. is a global biopharmaceutical enterprise focused on discovering, inventing, developing, manufacturing, and bringing to market medical treatments for a ...
Regeneron Pharmaceuticals, Inc. is a leading biotechnology company headquartered in Tarrytown, New York, founded in 1988 by Leonard S. Schleifer and George D. Yancopoulos. The company is dedicated to discovering, inventing, developing, manufacturing, and commercializing medical treatments for a wide range of illnesses. Its therapeutic portfolio includes EYLEA (for ophthalmic ...Regeneron Pharmaceuticals, Inc. is a leading biotechnology company headquartered in Tarrytown, New York, founded in 1988 by Leonard S. Schleifer and George D. Yancopoulos. The company is dedicated to discovering, inventing, developing, manufacturing, and commercializing medical treatments for a wide range of illnesses. Its therapeutic portfolio includes EYLEA (for ophthalmic conditions), Dupixent (for atopic dermatitis and asthma), Libtayo (for cutaneous squamous cell carcinoma), Praluent (for hypercholesterolemia), REGEN-COV (for COVID-19), Kevzara (for rheumatoid arthritis), Inmazeb (for Ebola), ARCALYST (for cryopyrin-associated periodic syndromes), and ZALTRAP (for metastatic colorectal cancer). Regeneron is actively engaged in developing novel product candidates for unmet medical needs in areas such as ocular diseases, allergic and inflammatory conditions, cardiovascular and metabolic disorders, infectious diseases, rare diseases, cancer, pain, and hematologic conditions. The company maintains extensive collaborations and licensing agreements with partners like Sanofi, Bayer, Teva, Mitsubishi Tanabe Pharma, Alnylam Pharmaceuticals, Roche, Kiniksa Pharmaceuticals, the U.S. Department of Health and Human Services, Zai Lab, Intellia Therapeutics, BARDA, and AstraZeneca. Financially, Regeneron shows strong performance with a market cap of approximately $79.5 billion, a gross profit margin of 84.9%, and a net profit margin of 27.9%. R&D expenses account for 41.6% of revenue, reflecting its commitment to innovation. The company has a debt-to-equity ratio of 0.063, indicating a conservative capital structure. With over 15,000 employees, Regeneron continues to push the bounds of science to create life-changing medicines.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$14.3B
+1.0%
+19.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$4.5B
+2.1%
+78.3%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+85.4%
-0.9%
+6.3%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+24.9%
-11.2%
+85.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+31.4%
+1.1%
+49.9%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$4.1B
+11.3%
-60.6%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+28.4%
+10.3%
-66.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
8.7%
-6.0%
-27.3%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
4.13x
-12.8%
-6.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Welcome to the Regeneron Pharmaceuticals Second Quarter 2026 Earnings Conference Call. My name is Michelle, and I'll be your operator for today's call. [Operator Instructions] Please note that this conference call is being recorded. I will now turn the call over to Ryan Crowe, Senior Vice President, Investor Relations. You may begin.
Ryan Crowe: Thank you, Michelle. Good morning, good afternoon, and good evening to everyone listening around the world. Thank you for your interest in Regeneron, and welcome to our second quarter 2026 earnings conference call. An archive and transcript of this call will be available on the Regeneron Investor Relations website shortly after our call concludes. Joining me on today's call are Dr. Leonard Schleifer, Co-Founder, Board, Co-Chair, President and Chief Executive Officer; Dr. George Yancopoulos, Co-Founder, Board, Co-Chair, President and Chief Scientific Officer; Marion McCourt, Executive Vice President, Commercial; and Chris Fenimore, Executive Vice President, Finance and Chief Financial Officer. For our call today, Len will briefly review key second quarter performance drivers, highlight important upcoming pipeline catalysts and provide a few comments on capital allocation. George will then detail our recent pipeline progress, followed by Marion, who will review our commercial portfolio. And finally, Chris will discuss our financial results and outlook. After our prepared remarks, the remaining time will be available for Q&A. I would like to remind you that remarks made on today's call may include forward-looking statements about Regeneron. Such statements may include, but are not limited to, those related to Regeneron and its products and business, financial forecast and guidance, development programs and related anticipated milestones, collaborations, finances, regulatory matters, payer coverage and reimbursement, changes to drug pricing regulations and requirements and our drug pricing strategy, intellectual property, pending litigation and other proceedings and competition. Each forward-looking statement is subject to risks and uncertainties that could cause actual results and events to differ materially from those projected in that statement. A more complete description of these and other material risks can be found in Regeneron's filings with the United States Securities and Exchange Commission, including its Form 10-Q for the quarter ended June 30, 2026, which was filed with the SEC this morning. Regeneron does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. In addition, please note that GAAP and non-GAAP financial measures will be discussed on today's call. Information regarding our use of non-GAAP financial measures and a reconciliation of those measures to GAAP is available in our quarterly results press release and our corporate presentation, both of which can be found on the Regeneron Investor …
