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Regeneron Pharmaceuticals

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Regeneron Pharmaceuticals, Inc.
Company typePublic
Industry
Founded1988; 36 years ago (1988)
Founders
HeadquartersTarrytown, New York, U.S.
Area served
Global
Key people
  • Leonard Schleifer (CEO)
  • George Yancopoulos (CSO)
RevenueIncrease US$13.12 billion (2023)
Decrease US$4.05 billion (2023)
Decrease US$3.95 billion (2023)
Total assetsIncrease US$33.08 billion (2023)
Total equityIncrease US$25.97 billion (2023)
Number of employees
13,450 (2023)
Websitewww.regeneron.com Edit this at Wikidata
Footnotes / references
[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 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

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The company was founded by CEO Leonard Schleifer and scientist George Yancopoulos in 1988.[3]

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.[citation needed]

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.[4]

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,[5] with $640 million upfront, $750 million for proof-of-concept data, and $650 million from the development of REGN2810.[6] REGN2810 was later named cemiplimab. In 2019, Regeneron Pharmaceuticals was announced the 7th best publicly listed company of the 2010s, with a total return of 1,457%.[7] Regeneron Pharmaceuticals was home to the two highest-paid pharmaceutical executives as of 2020.[8]

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.[9] This deal was criticized in The New York Times.[8] 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.[10]

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.[11][12]

In April 2022, the business announced it would acquire Checkmate Pharmaceuticals for around $250 million, enhancing its number of immuno-oncology drugs.[13]

In August 2023, Regeneron announced it would acquire Decibel Therapeutics.[14]

In December 2023, Regeneron acquired an Avon Products property in Suffern, New York to be used for cold storage, research and development laboratories[15]

In April 2024, the company acquired 2seventy Bio.[16]

Experimental treatment for COVID-19

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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.[17]

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.[18][19][20] 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.[21] 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.[22] California based laboratory, FOMAT, is part of the clinical investigation through their doctors Augusto and Nicholas Focil.[23]

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.[24] 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)).[25] On October 7, Trump posted a five-minute video to Twitter reasserting that this drug should be "free."[26] 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."[27] The FDA granted approval for emergency use authorization in November 2020.[28]

Marketed products

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Technology platforms

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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.[citation needed]

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]: 255–258 

Financial performance

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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

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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.[3] 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.[3]

See also

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References

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  1. ^ "Regeneron Pharmaceuticals, Inc. 2023 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 5, 2024.
  2. ^ a b Herper, Matthew (August 14, 2013). "How Two Guys From Queens Are Changing Drug Discovery". Forbes. Archived from the original on March 16, 2014. Retrieved March 22, 2014.Open access icon
  3. ^ a b c d e "Regeneron's Billionaire Founder Battles The Drug Pricing System". Forbes. 26 July 2018. Retrieved 26 July 2018.
  4. ^ "Sanofi-Regeneron Drug Lowers Cholesterol Up to 72% in Study". Bloomberg. 26 March 2012. Retrieved 25 July 2021.
  5. ^ Staff (July 28, 2015). "Regeneron, Sanofi Launch $2B+ Immuno-Oncology Collaboration". Genetic Engineering & Biotechnology News. Archived from the original on September 21, 2020. Retrieved October 9, 2022.Open access icon
  6. ^ Carroll, John (July 28, 2015). "UPDATED: Struggling Sanofi paying $1.8B to partner with Regeneron on immuno-oncology". FierceBiotech. Archived from the original on May 4, 2016. Retrieved October 9, 2022.Open access icon
  7. ^ Hough, Jack (December 18, 2019). "10 Stocks That Had Better Decades Than Amazon and Google". Barron's. Archived from the original on December 18, 2019. Retrieved December 19, 2019.
  8. ^ a b Mazzucato, Mariana; Momenghalibaf, Azzi (March 18, 2020). "Drug Companies Will Make a Killing From Coronavirus". The New York Times. Archived from the original on March 18, 2020. Retrieved October 9, 2022.
  9. ^ Pagliarulo, Ned (February 4, 2020). "Regeneron partners with US government to develop coronavirus treatment". BioPharma Dive. Washington, D.C.: Industry Dive. Archived from the original on February 27, 2020. Retrieved July 25, 2021.
  10. ^ https://markets.ft.com/data/announce/full?dockey=1330-8992408en-4SB6JLTDIDJHOAC14KRIJ3Q6L8 [bare URL]
  11. ^ Protard, Matthieu (May 25, 2020). "U.S.' Regeneron to buy back $5 billion stake held by Sanofi". Reuters. Ed. John Stonestreet. Archived from the original on October 18, 2020. Retrieved October 9, 2022.Open access icon
  12. ^ "Sanofi intends to sell its equity investment in Regeneron; confirms no change to ongoing collaboration". Sanofi. May 25, 2020. Retrieved February 17, 2023.Open access icon
  13. ^ "Regeneron to Acquire Checkmate Pharmaceuticals and Its Investigational Immune Activator for Potential Use in Multiple Tumor Types" (Press release). Regeneron. April 19, 2022. Retrieved October 9, 2022 – via BioSpace.
  14. ^ "Regeneron to Acquire Decibel Therapeutics, Strengthening Gene Therapy and Hearing Loss Programs". 9 August 2023.
  15. ^ Regeneron Pharmaceuticals Purchases Avon in Suffern For $38.875 Million, To be Used For Research & Development Laboratories
  16. ^ "Novartis, Ono Latest to Announce Billion-Dollar M&A Deals". 5 March 2024.
  17. ^ News Division (4 February 2020). "HHS, Regeneron Collaborate to Develop 2019-nCoV Treatment". HHS.gov. Archived from the original on 22 January 2021. Retrieved 8 October 2020.
  18. ^ Kelland, Kate (2020-09-14). "Regeneron's antibody drug added to UK Recovery trial of COVID treatments". Reuters. Archived from the original on September 17, 2020. Retrieved 2020-10-08.
  19. ^ Morelle, Rebecca (2020-09-14). "Antibody treatment to be given to Covid patients". BBC News. Retrieved 2020-10-08.
  20. ^ "Regeneron's COVID-19 Response Efforts". Regeneron Pharmaceuticals Inc. Retrieved 2020-10-08.
  21. ^ News Division (6 July 2020). "HHS, DOD Collaborate with Regeneron on Large-Scale Manufacturing Demonstration Project of COVID-19 Investigational Therapeutic Treatment". HHS.gov. Archived from the original on 18 December 2020. Retrieved 8 October 2020.
  22. ^ 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". Regeneron Pharmaceuticals Inc. Retrieved 2020-10-08.
  23. ^ Largacha, María Cecilia (6 August 2020). "2 ecuatorianos, cerca del medicamento contra el Covid-19". YouTube. Archived from the original on 2021-12-21. Retrieved 13 October 2020.
  24. ^ "Trump taking Regeneron drug, Remdesivir therapy for coronavirus diagnosis: ex-WH doctor explains". Associated Press. Associated Press. 2020-10-03. Retrieved 2020-10-13.
  25. ^ Cunningham, Paige Winfield. "Analysis | The Health 202: Trump is taking Regeneron's new coronavirus treatment. It's used for mild symptoms" – via www.washingtonpost.com.
  26. ^ Trump, Donald (7 October 2020). "A Message From The President!". Twitter. Retrieved 7 October 2020.
  27. ^ Regeneron (7 October 2020). "Statement on REGN-COV2 Emergency Use Authorization Request (PDF)". Regeneron Pharmaceuticals Inc. Retrieved 8 October 2020.
  28. ^ Conover, Damien (January 19, 2021). "Biopharma Companies With COVID-19 Treatments See $10 Billion Market in 2021". Morningstar.com. Archived from the original on 2021-01-20. Retrieved 2021-01-19.
  29. ^ "Regulators Approve a Drug for an Eye Condition". The New York Times. Associated Press. November 18, 2011.
  30. ^ "FDA approves Zaltrap for metastatic colorectal cancer" (Press release). U.S. Food and Drug Administration (FDA). August 3, 2012. Archived from the original on June 25, 2013.
  31. ^ "FDA approves Praluent to treat certain patients with high cholesterol" (Press release). U.S. Food and Drug Administration (FDA). Archived from the original on 2015-07-27. Retrieved 2015-07-29.
  32. ^ Tirrell, Meg (2018-05-01). "A $14,000 cholesterol drug gets a price cut as Regeneron, Sanofi strike deal with Express Scripts". CNBC. Retrieved 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" (Press release). Regeneron Pharmaceuticals Inc. – via 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. (Press release).
  35. ^ "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) (Press release). 2019-09-11.
  38. ^ "FDA Approves First Treatment for Ebola Virus". U.S. Food and Drug Administration (FDA) (Press release). 14 October 2020. Retrieved 14 October 2020. Public Domain This article incorporates text from this source, which is in the public domain.
  39. ^ "Veopoz™ (pozelimab-bbfg) Receives FDA Approval as the First Treatment for Children and Adults with CHAPLE Disease | Regeneron Pharmaceuticals Inc". August 18, 2023.
  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. ISBN 978-1627035859
  41. ^ "Regeneron Pharmaceuticals Revenue 2006–2021 | REGN". Stock Research. MacroTrends. Table (Regeneron Pharmaceuticals Annual Revenue). Retrieved July 26, 2021.
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