Regeneron Pharmaceuticals Inc. reported its second quarter 2025 financial and operating results, highlighting a 4% increase in revenues to $3.68 billion compared to the second quarter of 2024. The company's GAAP net income for the quarter was $1.392 billion, a slight decrease of 3% from the previous year's $1.432 billion. However, non-GAAP net income rose by 5% to $1.424 billion from $1.351 billion. GAAP earnings per share $(EPS)$ increased by 3% to $12.81, while non-GAAP EPS saw a more significant rise of 12% to $12.89. Dupixent global net sales, recorded by Sanofi, increased 22% to $4.34 billion. EYLEA HD U.S. net sales grew by 29% to $393 million, though total EYLEA HD and EYLEA U.S. net sales decreased by 25% to $1.15 billion. In terms of business updates, the FDA approved Lynozyfic for relapsed or refractory multiple myeloma, and Dupixent for bullous pemphigoid and chronic spontaneous urticaria. Additionally, the FDA accepted for priority review Libtayo's supplemental Biologics License Application for adjuvant cutaneous squamous cell carcinoma. Regeneron also in-licensed rights to a late-stage dual GLP-1/GIP receptor agonist and reported interim 26-week data from its Phase 2 COURAGE trial in obesity. The company emphasized its commitment to internal investments and noted returning over $2.3 billion to shareholders through share repurchases and dividends, as well as committing over $7 billion to U.S. manufacturing investments, capital expenditures, and business development since the start of 2025.