Regeneron Pharmaceuticals Explained

Regeneron Pharmaceuticals, Inc.
Type:Public
Hq Location:Tarrytown, New York, U.S.
Area Served:Global
Revenue: (2023)
Operating Income: US$4.05 billion (2023)
Net Income: US$3.95 billion (2023)
Assets: US$33.08 billion (2023)
Equity: US$25.97 billion (2023)
Num Employees:13,450 (2023)
Footnotes:[1]

Regeneron Pharmaceuticals, Inc. is an American biotechnology company headquartered in Westchester County, New York. The company was founded in 1988.[2] Originally focused on neurotrophic factors and their regenerative capabilities, giving rise to its name, the company then branched out into the study of both cytokine and tyrosine kinase receptors, which gave rise to their first product, which is a VEGF-trap.

Company history

The company was founded by CEO Leonard Schleifer and scientist George Yancopoulos in 1988.

Regeneron has developed aflibercept, a VEGF inhibitor, and rilonacept, an interleukin-1 blocker. VEGF is a protein that normally stimulates the growth of blood vessels, and interleukin-1 is a protein that is normally involved in inflammation.

On March 26, 2012, Bloomberg announced that Sanofi and Regeneron were in development of a new drug that would help reduce cholesterol up to 72% more than its competitors. The new drug would target the PCSK9 gene.[3]

In July 2015, the company announced a new global collaboration with Sanofi to discover, develop, and commercialize new immuno-oncology drugs, which could generate more than $2 billion for Regeneron,[4] with $640 million upfront, $750 million for proof-of-concept data, and $650 million from the development of REGN2810.[5] REGN2810 was later named cemiplimab. In 2019, Regeneron Pharmaceuticals was announced the 7th best stock of the 2010s, with a total return of 1,457%.[6] Regeneron Pharmaceuticals was home to the two highest-paid pharmaceutical executives as of 2020.[7]

In October 2017, Regeneron made a deal with the Biomedical Advanced Research and Development Authority (BARDA) that the U.S. government would fund 80% of the costs for Regeneron to develop and manufacture antibody-based medications, which subsequently, in 2020, included their COVID-19 treatments, and Regeneron would retain the right to set prices and control production.[8] This deal was criticized in The New York Times. Such deals are not unusual for routine drug development in the American pharmaceutical market.

In 2019, the company was added to the Dow Jones Sustainability World Index.[9]

In May 2020, Regeneron announced it would repurchase approx. 19.2 million of its shares for around $5 billion, held directly by Sanofi. Prior to the transaction, Sanofi held 23.2 million Regeneron shares.[10] [11]

In April 2022, the business announced it would acquire Checkmate Pharmaceuticals for around $250 million, enhancing its number of immuno-oncology drugs.[12]

In August 2023, Regeneron announced it would acquire Decibel Therapeutics.[13]

In December 2023, Regeneron acquired an Avon Products property in Suffern, New York to be used for cold storage, research and development laboratories[14]

In April 2024, the company acquired 2seventy Bio.[15]

Experimental treatment for COVID-19

See main article: Casirivimab/imdevimab.

On February 4, 2020, the U.S. Department of Health and Human Services, which already worked with Regeneron, announced that Regeneron would pursue monoclonal antibodies to fight COVID-19.[16]

In July 2020, under Operation Warp Speed, Regeneron was awarded a $450 million government contract to manufacture and supply its experimental treatment REGN-COV2, an artificial "antibody cocktail" which was then undergoing clinical trials for its potential both to treat people with COVID-19 and to prevent SARS-CoV-2 coronavirus infection.[17] [18] [19] The $450 million came from the Biomedical Advanced Research and Development Authority (BARDA), the DoD Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense, and Army Contracting Command. Regeneron expected to produce 70,000–300,000 treatment doses or 420,000–1,300,000 prevention doses. "By funding this manufacturing effort, the federal government will own the doses expected to result from the demonstration project," the government said in its July 7 news release.[20] Regeneron similarly said in its own news release that same day that "the government has committed to making doses from these lots available to the American people at no cost and would be responsible for their distribution," noting that this depended on the government granting emergency use authorization or product approval.[21] California based laboratory, FOMAT, is part of the clinical investigation through their doctors Augusto and Nicholas Focil.[22]

In October 2020 when U.S. President Donald Trump was infected with COVID-19 and taken to Walter Reed National Military Medical Center in Bethesda, Maryland, he was administered REGN-COV2.[23] His doctors obtained it from Regeneron via a compassionate use request (as clinical trials had not yet been completed and the drug had not yet been approved by the US Food and Drug Administration (FDA)).[24] On October 7, Trump posted a five-minute video to Twitter reasserting that this drug should be "free."[25] That same day, Regeneron filed with the FDA for emergency use authorization. In the filing, it specified that it currently had 50,000 doses and that it expected to reach a total of 300,000 doses "within the next few months."[26] The FDA granted approval for emergency use authorization in November 2020.[27]

Marketed products

Technology platforms

Trap Fusion Proteins: Regeneron's novel and patented Trap technology creates high-affinity product candidates for many types of signaling molecules, including growth factors and cytokines. The Trap technology involves fusing two distinct fully human receptor components and a fully human immunoglobulin-G constant region.

Fully Human Monoclonal Antibodies: Regeneron has developed a suite (VelociSuite) of patented technologies, including VelocImmune and VelociMab, that allow Regeneron scientists to determine the best targets for therapeutic intervention and rapidly generate high-quality, fully human antibodies drug candidates addressing these targets.[40]

Financial performance

Financial Year Revenue[41]
2012 $1.4 billion
2013 $2.1 billion
2014 $2.8 billion
2015 $4.1 billion
2016 $4.8 billion
2017 $5.8 billion
2018 $6.7 billion
2019 $7.8 billion
2020 $8.5 billion
2021 $16.1 billion
2022 $12.2 billion
2023 $13.1 billion

Key people

The founders Leonard Schleifer and George Yancopoulos are reported to hold $1.3 billion and $900 million in company stock, respectively. Both are from Queens, New York.[29] Schleifer was formerly a professor of medicine at Weill Cornell Medical School. Yancopoulos was a post-doctoral fellow, and MD/PhD student at Columbia University. Yancopoulos was involved in each drug's development.[29]

See also

External links

NASDAQ:

Notes and References

  1. Web site: Regeneron Pharmaceuticals, Inc. 2023 Annual Report (Form 10-K) . February 5, 2024 . U.S. Securities and Exchange Commission.
  2. News: How Two Guys From Queens Are Changing Drug Discovery . live . August 14, 2013 . Herper, Matthew . . March 22, 2014 . March 16, 2014 . https://web.archive.org/web/20140316003731/http://www.forbes.com/sites/matthewherper/2013/08/14/how-two-guys-from-queens-are-changing-drug-discovery/ .
  3. Web site: 26 March 2012. Sanofi-Regeneron Drug Lowers Cholesterol Up to 72% in Study. 25 July 2021. Bloomberg.
  4. Staff . July 28, 2015 . Regeneron, Sanofi Launch $2B+ Immuno-Oncology Collaboration . live . Genetic Engineering & Biotechnology News . https://web.archive.org/web/20200921094802/https://www.genengnews.com/topics/drug-discovery/regeneron-sanofi-launch-2b-immuno-oncology-collaboration/ . September 21, 2020 . October 9, 2022.
  5. Web site: Carroll . John . July 28, 2015 . UPDATED: Struggling Sanofi paying $1.8B to partner with Regeneron on immuno-oncology . live . https://web.archive.org/web/20160504230924/https://www.fiercebiotech.com/biotech/updated-struggling-sanofi-paying-1-8b-to-partner-regeneron-on-immuno-oncology . May 4, 2016 . October 9, 2022 . FierceBiotech.
  6. Web site: Hough . Jack . December 18, 2019 . 10 Stocks That Had Better Decades Than Amazon and Google . subscription . live . https://web.archive.org/web/20191218183134/https://www.barrons.com/articles/the-10-best-stocks-of-the-past-decade-51576628081 . December 18, 2019 . December 19, 2019 . Barron's.
  7. News: Mazzucato . Mariana . Momenghalibaf . Azzi . March 18, 2020 . Drug Companies Will Make a Killing From Coronavirus . . live . subscription . October 9, 2022 . https://web.archive.org/web/20200318091149/https://www.nytimes.com/2020/03/18/opinion/coronavirus-vaccine-cost.html . March 18, 2020.
  8. Web site: Pagliarulo . Ned . February 4, 2020 . Regeneron partners with US government to develop coronavirus treatment . live . https://web.archive.org/web/20200227161217/https://www.biopharmadive.com/news/regeneron-hhs-coronavirus-antibody-development/571651/ . February 27, 2020 . July 25, 2021 . BioPharma Dive . Industry Dive . Washington, D.C. . en-US.
  9. https://markets.ft.com/data/announce/full?dockey=1330-8992408en-4SB6JLTDIDJHOAC14KRIJ3Q6L8
  10. News: Protard . Matthieu . Ed. John Stonestreet . May 25, 2020 . U.S.' Regeneron to buy back $5 billion stake held by Sanofi . Reuters . live . October 9, 2022 . https://web.archive.org/web/20201018071258/https://www.reuters.com/article/us-sanofi-regeneron-idUKKBN2311TC . October 18, 2020.
  11. News: May 25, 2020 . Sanofi intends to sell its equity investment in Regeneron; confirms no change to ongoing collaboration . Sanofi . February 17, 2023 .
  12. Regeneron to Acquire Checkmate Pharmaceuticals and Its Investigational Immune Activator for Potential Use in Multiple Tumor Types . April 19, 2022 . BioSpace . Regeneron . October 9, 2022.
  13. Web site: Regeneron to Acquire Decibel Therapeutics, Strengthening Gene Therapy and Hearing Loss Programs .
  14. https://rocklandreport.com/regeneron-pharmaceuticals-purchases-avon-in-suffern-for-38-875-million-to-be-used-for-research-development-laboratories/ Regeneron Pharmaceuticals Purchases Avon in Suffern For $38.875 Million, To be Used For Research & Development Laboratories
  15. Web site: Novartis, Ono Latest to Announce Billion-Dollar M&A Deals .
  16. Web site: News Division. 4 February 2020. HHS, Regeneron Collaborate to Develop 2019-nCoV Treatment. 8 October 2020. HHS.gov. 22 January 2021. https://web.archive.org/web/20210122035718/https://www.hhs.gov/about/news/2020/02/04/hhs-regeneron-collaborate-to-develop-2019-ncov-treatment.html. dead.
  17. News: Kelland. Kate. 2020-09-14. Regeneron's antibody drug added to UK Recovery trial of COVID treatments. Reuters. 2020-10-08.
  18. News: Morelle. Rebecca. Rebecca Morelle. 2020-09-14. Antibody treatment to be given to Covid patients. BBC News. 2020-10-08.
  19. Web site: Regeneron's COVID-19 Response Efforts. 2020-10-08. Regeneron Pharmaceuticals Inc..
  20. Web site: News Division. 6 July 2020. HHS, DOD Collaborate with Regeneron on Large-Scale Manufacturing Demonstration Project of COVID-19 Investigational Therapeutic Treatment. 8 October 2020. HHS.gov. 18 December 2020. https://web.archive.org/web/20201218071923/https://www.hhs.gov/about/news/2020/07/07/hhs-dod-collaborate-regeneron-large-scale-manufacturing-demonstration-project-covid-19-investigational-therapeutic-treatment.html. dead.
  21. Web site: Regeneron. 7 July 2020. Regeneron Announces Manufacturing and Supply Agreement for BARDA and U.S. Department of Defense for REGN-COV2 Anti-Viral Antibody Cocktail . 2020-10-08. Regeneron Pharmaceuticals Inc..
  22. Web site: Largacha. María Cecilia. 6 August 2020. 2 ecuatorianos, cerca del medicamento contra el Covid-19. YouTube. https://ghostarchive.org/varchive/youtube/20211221/vYAtAASDO44 . 2021-12-21 . live. 13 October 2020.
  23. Web site: Associated Press. 2020-10-03. Trump taking Regeneron drug, Remdesivir therapy for coronavirus diagnosis: ex-WH doctor explains. 2020-10-13. Associated Press. en-US.
  24. Web site: Analysis | The Health 202: Trump is taking Regeneron's new coronavirus treatment. It's used for mild symptoms.. Paige Winfield. Cunningham. www.washingtonpost.com.
  25. Web site: Trump. Donald. 7 October 2020. A Message From The President!. 7 October 2020. Twitter.
  26. Web site: Regeneron. 7 October 2020. Statement on REGN-COV2 Emergency Use Authorization Request (PDF). 8 October 2020. Regeneron Pharmaceuticals Inc..
  27. Web site: Conover. Damien. January 19, 2021. Biopharma Companies With COVID-19 Treatments See $10 Billion Market in 2021. https://web.archive.org/web/20210120071746/https://www.morningstar.com/articles/1017882/biopharma-companies-with-covid-19-treatments-see-10-billion-market-in-2021. 2021-01-20. 2021-01-19. Morningstar.com. en. dead.
  28. News: Regulators Approve a Drug for an Eye Condition . . Associated Press . November 18, 2011 .
  29. Web site: Regeneron's Billionaire Founder Battles The Drug Pricing System. Forbes. 26 July 2018. 26 July 2018.
  30. FDA approves Zaltrap for metastatic colorectal cancer . August 3, 2012 . U.S. Food and Drug Administration (FDA) . June 25, 2013 . https://web.archive.org/web/20130625115621/https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm314372.htm . dead .
  31. FDA approves Praluent to treat certain patients with high cholesterol . U.S. Food and Drug Administration (FDA) . 2015-07-29 . https://web.archive.org/web/20150727112659/https://www.fda.gov/NewsEvents/Newsroom/PressAnnouncements/ucm455883.htm . 2015-07-27 . dead .
  32. News: A $14,000 cholesterol drug gets a price cut as Regeneron, Sanofi strike deal with Express Scripts. Tirrell. Meg. 2018-05-01. CNBC. 2018-08-22.
  33. Regeneron and Sanofi Announce FDA Approval of Dupixent (dupilumab), the First Targeted Biologic Therapy for Adults with Moderate-to-Severe Atopic Dermatitis. Regeneron Pharmaceuticals Inc.. PRNewswire.
  34. Regeneron and Sanofi Announce FDA Approval of Kevzara (sarilumab) for the Treatment of Moderately to Severely Active Rheumatoid Arthritis in Adult Patients (NASDAQ:REGN). Regeneron Pharmaceuticals Inc..
  35. Web site: Regeneron's COVID-19 Response Efforts. Regeneron Pharmaceuticals Inc..
  36. Evaluation of the Efficacy and Safety of Sarilumab in Hospitalized Patients With COVID-19. clinicaltrials.gov. 30 September 2020.
  37. FDA approves first treatment for advanced form of the second most common skin cancer . U.S. Food and Drug Administration (FDA) . 2019-09-11.
  38. FDA Approves First Treatment for Ebola Virus . U.S. Food and Drug Administration (FDA) . 14 October 2020 . 14 October 2020.
  39. Web site: August 18, 2023 . Veopoz™ (pozelimab-bbfg) Receives FDA Approval as the First Treatment for Children and Adults with CHAPLE Disease Regeneron Pharmaceuticals Inc. .
  40. Susana Magadán Mompó and África González-Fernández. "Human Monoclonal Antibodies from Transgenic Mice". Chapter 13 in Human Monoclonal Antibodies: Methods and Protocols Ed. Michael Steinitz. Springer Science+Business Media, 2014.
  41. Web site: Regeneron Pharmaceuticals Revenue 2006–2021 REGN . July 26, 2021 . Stock Research . MacroTrends . Table (Regeneron Pharmaceuticals Annual Revenue).

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