ALNY vs REGN: How Alnylam Pharmaceuticals and Regeneron Pharmaceuticals Compare (2026)

Same yardstick, side by side (as of July 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: REGN is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. ALNY and REGN share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined ALNY and REGN exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Alnylam Pharmaceuticals is the company that turned RNA interference, a Nobel-winning biological mechanism for silencing disease-causing genes, into an approved class of medicines. Its commercial portfolio includes Amvuttra (vutrisiran) and Onpattro for transthyretin (TTR) amyloidosis, Givlaari for acute hepatic porphyria, and Oxlumo for a rare kidney disorder, plus royalties on Leqvio, an cholesterol-lowering RNAi drug marketed by partner Novartis. The defining event was the March 2025 FDA approval of Amvuttra for ATTR amyloidosis with cardiomyopathy (ATTR-CM), a far larger patient population than its earlier polyneuropathy indication, based on the HELIOS-B trial showing a 28% reduction in death and cardiac events.

Full ALNY guide

Regeneron makes money primarily through two large franchises. Dupixent, an anti-inflammatory antibody used for eczema, asthma, COPD, and other conditions, is developed and commercialized in collaboration with Sanofi, and Regeneron records its share through Sanofi collaboration revenue (about $1.6 billion in Q1 2026, up roughly 36%). Eylea and the higher-dose Eylea HD treat retinal diseases such as wet age-related macular degeneration and diabetic eye disease, generating combined U.S. net product sales of about $941 million in Q1 2026, with Eylea HD now roughly half of that mix. Libtayo in oncology and a pipeline of nearly 50 clinical candidates round out the revenue base.

Full REGN guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• ALNY drivers: Amvuttra ATTR-CM ramp; Crossing into sustained profitability.
• REGN drivers: Dupixent keeps compounding; A deep, diversified pipeline.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Revenue is heavily concentrated in the TTR franchise, so any competitive share loss or reimbursement setback for Amvuttra would hit the whole story. For REGN, the clearest risk is Eylea biosimilar erosion.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick ALNY if you believe its drivers more; REGN if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the ALNY and REGN guides.

ALNY. Alnylam reached profitability in 2025 after nearly $3 billion in net product revenue, and Q1 2026 delivered about $1.0 billion in net product revenue with roughly $206 million of net income. At a market cap near $42 billion against 2026 revenue guidance of roughly $5 billion, the stock carries a premium multiple that prices in continued rapid growth. It pays no dividend and reinvests cash into its RNAi pipeline.

REGN. Figures are approximate and tied to the asOf date; verify current numbers with a live quote before acting. Regeneron reported about 19% revenue growth and adjusted EPS of roughly $9.47 in Q1 2026, beating estimates, and authorized an additional $3 billion buyback. The mid-teens P/E reflects the market weighing strong Dupixent growth against expected Eylea biosimilar erosion.

Headline figures (approximate, JULY 2026): ALNY shows market cap ~$42B, net product revenue (fy2025) ~$3.0B, net product revenue (ttm) ~$3.5B, 2026 revenue guidance ~$4.9B to $5.3B; REGN shows total revenue (ttm, approx) ~$14 billion, q1 2026 total revenue ~$3.6 billion (up ~19% YoY), dupixent global net sales (q1 2026) ~$4.9 billion (up ~31%), eylea + eylea hd u.s. net sales (q1 2026) ~$941 million combined.

ALNY and REGN are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined ALNY and REGN exposure against your real portfolio. It is not an investment adviser.