What is Regeneron Pharmaceuticals's R&D?

Regeneron Pharmaceuticals (REGN) reported R&D of $1.54B in Q1 2026.

How has Regeneron Pharmaceuticals's R&D changed year-over-year?

Regeneron Pharmaceuticals's R&D increased by 16.3% year-over-year, from $1.33B to $1.54B.

What is the long-term trend for Regeneron Pharmaceuticals's R&D?

Over 4 years (2021 to 2025), Regeneron Pharmaceuticals's R&D has grown at a 19.6% compound annual growth rate (CAGR), from $2.86B to $5.85B.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Regeneron Pharmaceuticals REGN R&D

R&D at other companies

Merck & Co.MRK

$12.59B+248%

AmgenAMGN

$1.72B+15.7%

Nektar TherapeuticsNKTR

$35.68M+17.1%

GlaukosGKOS

$44.15M+36.4%

EyePoint, Inc. EYPT

$72.15M+23.2%

Ocular TherapeutixOCUL

$66.21M+54.5%

Segments

By segment

See full

Reportable Segment$1.54B+16.3%

Other financials

Income statement

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Revenue$3.6B+19.0%

Operating income$642.9M+8.7%

Net income$727.2M-10.1%

EPS (diluted)$6.75-7.2%

Balance sheet

See full

Cash & equivalents$3.0B-4.0%

Total debt$2.7B+0.1%

Total equity$31.4B+6.9%

Total assets$40.9B+8.9%

Cash flow

See full

Operating cash flow$1.1B+3.2%

CapEx$230.6M+0.6%

Free cash flow$848.3M+4.0%

Valuation

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Market cap$65.37B+21.9%

Enterprise value$65.11B+20.0%

P/E14.8×+2.8×

P/S4.4×+0.6×

Profitability

See full

Gross margin93.9%—

Operating margin24.3%-2.9pp

Net margin29.6%-2.3pp

FCF margin27.6%+5.5pp

Returns & leverage

See full

Return on equity14.5%-1.4pp

Debt / equity0.1×0.0×

Current ratio3.6×-1.4×

Where this comes from

Reported directly by Regeneron Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Regeneron Pharmaceuticals’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Regeneron Pharmaceuticals's R&D?: Regeneron Pharmaceuticals (REGN) reported R&D of $1.54B in Q1 2026.
How has Regeneron Pharmaceuticals's R&D changed year-over-year?: Regeneron Pharmaceuticals's R&D increased by 16.3% year-over-year, from $1.33B to $1.54B.
What is the long-term trend for Regeneron Pharmaceuticals's R&D?: Over 4 years (2021 to 2025), Regeneron Pharmaceuticals's R&D has grown at a 19.6% compound annual growth rate (CAGR), from $2.86B to $5.85B.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.