Regeneron Pharmaceuticals reported third-quarter net income of $1.95 billion, or $18.45 per share, up 33% and 35%, respectively, from a year earlier. Adjusted earnings rose 70% to $20.07 per share, above the $16.06 analyst estimate cited in the report, while revenue increased 36% to $5.12 billion, exceeding the $4.54 billion estimate. The results were driven mainly by higher payments and profit-sharing income from Sanofi’s Dupixent, whose global sales rose 35% to $6.54 billion. Regeneron’s U.S. Eylea sales fell 41%, but Eylea HD sales increased 62%, leaving combined U.S. sales down 1%. The company raised its 2026 adjusted research and development expense forecast, lowered its selling and administrative expense outlook, and increased its expected adjusted gross margin on product sales to about 86%.