Regeneron Pharmaceuticals (REGN) investor relations material

Commercial performance and product highlights

• EYLEA HD achieved $506 million in Q4, marking 66% year-over-year growth, aided by label enhancements for weekly dosing and RVO indication.

• DUPIXENT sales reached $4.9 billion in Q4, up 32% year-over-year, with strong performance across multiple indications and international markets.

• Libtayo generated $525 million in Q4, a 13% year-over-year increase, with growth in skin and lung cancer indications and new launches in adjuvant settings.

• LYNOZYFIC launch showed positive early uptake in multiple myeloma, with benefits in efficacy, safety, and reduced hospitalizations.

• EYLEA HD is positioned as the leading innovative anti-VEGF brand, with expectations for continued growth despite biosimilar competition.

Strategic initiatives and pipeline development

• Expansion into new therapeutic areas is supported by a robust commercial infrastructure, enabling launches in neurology and other specialties.

• Cemdisiran is expected to launch for generalized myasthenia gravis by early next year, with preparations for a dedicated neurology business unit.

• M&A strategy focuses on early-stage and platform opportunities, with commercial synergies not being the primary driver.

• The alliance with Sanofi remains central, especially for DUPIXENT, with ongoing discussions about collaboration scope and next-generation assets.

• Several ophthalmology pipeline candidates, including programs for uveitis, glaucoma, geographic atrophy, and thyroid eye disease, are advancing toward commercialization.

Market dynamics and forward-looking statements

• EYLEA faces ongoing and increasing biosimilar competition, with additional entrants expected in the second half of the year.

• EYLEA HD unit growth is projected to be high single digits in Q1, while original EYLEA is expected to continue declining.

• The pre-filled syringe for EYLEA HD is important for adoption, with 95% of EYLEA use already via this format.

• Fianlimab trial readout is expected in the first half of the year, with study powered to account for potential pembrolizumab outperformance.

• Interim analysis for the geographic atrophy program is anticipated toward the end of 2026, focusing on systemic complement inhibition.