v3.26.1
Collaboration, License, and Other Agreements (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Collaborative Revenue
Net product sales consist of the following:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2026202520262025
EYLEA HD®
U.S.$596.3 $393.2 $1,064.7 $700.0 
EYLEA®
U.S.412.2 754.3 885.3 1,490.3 
Total EYLEA HD and EYLEAU.S.1,008.5 1,147.5 1,950.0 2,190.3 
Libtayo®
U.S.342.6 247.8 628.7 440.3 
Libtayo
Rest of world
146.8 128.7 298.9 221.3 
Total Libtayo
Global
489.4 376.5 927.6 661.6 
Praluent®
U.S.74.7 65.8 141.3 122.6 
Evkeeza®
U.S.53.3 41.2 99.0 72.1 
Lynozyfic®
Global
16.5 — 27.7 — 
Other products
Global
— — 31.3 — 
$1,642.4 $1,631.0 $3,176.9 $3,046.6 
Amounts recognized in the Company's Statements of Operations in connection with its Sanofi collaboration are as follows:
Statement of Operations ClassificationThree Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2026202520262025
Regeneron's share of profits
Collaboration revenue$2,032.6 $1,282.1 $3,483.4 $2,300.2 
Reimbursement for manufacturing of commercial suppliesCollaboration revenue$141.7 $161.5 $296.0 $326.6 
Regeneron's obligation for its share of Sanofi R&D expenses, net of reimbursement of R&D expenses
(R&D expense)
$(19.4)$(18.0)$(36.1)$(33.5)
Reimbursement of commercialization-related expenses
Reduction of SG&A expense$188.8 $194.0 $372.9 $353.2 
Amounts recognized in the Company's Statements of Operations in connection with its Bayer collaboration are as follows:
Statement of Operations ClassificationThree Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2026202520262025
Regeneron's share of profits
Collaboration revenue$227.3 $383.4 $467.3 $700.7 
Reimbursement for manufacturing of commercial supplies
Collaboration revenue$48.9 $31.6 $96.2 $58.2 
Regeneron's obligation for its share of Bayer R&D expenses, net of reimbursement of R&D expenses(R&D expense)/Reduction of R&D expense$(0.6)$(5.6)$0.4 $(15.0)
Schedule of Accounts Receivable and Deferred Revenue Information
The following table summarizes contract balances in connection with the Company's Sanofi collaboration:
June 30,December 31,
(In millions)
2026
2025
Accounts receivable, net $2,272.4 $1,610.6 
Deferred revenue
$607.5 $442.3 
The following table summarizes contract balances in connection with the Company's Bayer collaboration:
June 30,December 31,
(In millions)
2026
2025
Accounts receivable, net$223.4 $287.6 
Deferred revenue
$276.9 $295.7