Will Higher Dupixent Profits, Eylea HD Sales Drive REGN's Q4 Earnings?

Core Insights - Investors are focusing on profits from the asthma drug Dupixent and sales of Eylea HD as Regeneron Pharmaceuticals prepares to report its fourth-quarter 2025 results on January 30, 2026, with revenue estimates at $3.82 billion and earnings at $10.56 per share [1] Earnings Performance - Regeneron has a history of earnings surprises, beating estimates in three of the last four quarters with an average surprise of 21.81%, including a 25.32% beat in the last reported quarter [2] Earnings Prediction - The earnings model predicts a likely earnings beat for Regeneron, supported by a positive Earnings ESP of +0.82% and a Zacks Rank of 1 (Strong Buy) [3][4] Product Sales Overview - Eylea, a key revenue driver, has faced sales pressure due to competition from Vabysmo, with preliminary sales of $577 million in the U.S. for Q4 [5][6] - Eylea HD, a higher dose version, has seen strong initial uptake with sales of $506 million in the U.S. for the quarter, following FDA approval for new dosing options [7][8] Dupixent Performance - Dupixent is expected to show solid growth in Q4, driven by strong demand across multiple indications, likely offsetting the decline in Eylea sales [10] Diversification Strategy - Regeneron is working to diversify its revenue base beyond Eylea, focusing on building its oncology franchise, which includes Libtayo and the newly approved Lynozyfic [11] - Libtayo's sales growth has been bolstered by recent label expansions, with current sales estimates at $482 million [12] Share Repurchase Program - A decrease in outstanding shares due to a $3.0 billion share repurchase program is expected to positively impact the bottom line, with $2.156 billion remaining for repurchases as of September 30, 2025 [15] Stock Performance - Regeneron's shares have increased by 12.2% over the past year, compared to the industry's growth of 17.1% [16]