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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)
RevenueIncreaseUS$13.12 billion(2023)
DecreaseUS$4.05 billion (2023)
DecreaseUS$3.95 billion (2023)
Total assetsIncreaseUS$33.08 billion (2023)
Total equityIncreaseUS$25.97 billion (2023)
Number of employees
13,450 (2023)
Websitewww.regeneronEdit this at Wikidata
Footnotes / references
[1]

Regeneron Pharmaceuticals, Inc.is an Americanbiotechnologycompanyheadquartered inWestchester County, New York.The company was founded in 1988.[2]Originally focused onneurotrophic factorsand their regenerative capabilities, giving rise to its name, the company then branched out into the study of bothcytokineandtyrosine kinasereceptors, which gave rise to their first product, which is aVEGF-trap.

Company history

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The company was founded by CEOLeonard Schleiferand scientistGeorge Yancopoulosin 1988.[3]

Regeneron has developedaflibercept,aVEGFinhibitor, andrilonacept,aninterleukin-1blocker. 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 thatSanofiand 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 thePCSK9gene.[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 ofREGN2810.[6]REGN2810 was later named cemiplimab. In 2019, Regeneron Pharmaceuticals was announced the 7th beststockof 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 theBiomedical 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 theirCOVID-19treatments, and Regeneron would retain the right to set prices and control production.[9]This deal was criticized inThe 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 theDow 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 acquireCheckmate Pharmaceuticalsfor 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 anAvon Productsproperty inSuffern, New Yorkto be used for cold storage, research and development laboratories[15]

In April 2024, the company acquired2seventy Bio.[16]

Experimental treatment for COVID-19

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Main article:Casirivimab/imdevimab

On February 4, 2020, theU.S. Department of Health and Human Services,which already worked with Regeneron, announced that Regeneron would pursuemonoclonal antibodiesto fight COVID-19.[17]

In July 2020, underOperation Warp Speed,Regeneron was awarded a $450 million government contract to manufacture and supply its experimental treatmentREGN-COV2,an artificial "antibody cocktail" which was then undergoing clinical trials for its potential both to treat people withCOVID-19and to preventSARS-CoV-2coronavirus infection.[18][19][20]The $450 million came from theBiomedical Advanced Research and Development Authority(BARDA), the DoD Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense, andArmy 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 grantingemergency use authorizationor 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. PresidentDonald Trumpwas infected withCOVID-19and taken toWalter Reed National Military Medical CenterinBethesda, Maryland,he was administeredREGN-COV2.[24]His doctors obtained it from Regeneron via acompassionate userequest (as clinical trials had not yet been completed and the drug had not yet been approved by the USFood 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 andGeorge Yancopoulosare reported to hold $1.3 billion and $900 million in company stock, respectively. Both are fromQueens, New York.[3]Schleifer was formerly a professor of medicine atWeill Cornell Medical School.Yancopoulos was a post-doctoral fellow, and MD/PhD student atColumbia 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. ^abHerper, Matthew (August 14, 2013)."How Two Guys From Queens Are Changing Drug Discovery".Forbes.Archivedfrom the original on March 16, 2014.RetrievedMarch 22,2014.Open access icon
  3. ^abcde"Regeneron's Billionaire Founder Battles The Drug Pricing System".Forbes.26 July 2018.Retrieved26 July2018.
  4. ^"Sanofi-Regeneron Drug Lowers Cholesterol Up to 72% in Study".Bloomberg.26 March 2012.Retrieved25 July2021.
  5. ^Staff (July 28, 2015)."Regeneron, Sanofi Launch $2B+ Immuno-Oncology Collaboration".Genetic Engineering & Biotechnology News.Archivedfrom the original on September 21, 2020.RetrievedOctober 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.Archivedfrom the original on May 4, 2016.RetrievedOctober 9,2022.Open access icon
  7. ^Hough, Jack (December 18, 2019)."10 Stocks That Had Better Decades Than Amazon and Google".Barron's.Archivedfrom the original on December 18, 2019.RetrievedDecember 19,2019.
  8. ^abMazzucato, Mariana; Momenghalibaf, Azzi (March 18, 2020)."Drug Companies Will Make a Killing From Coronavirus".The New York Times.Archivedfrom the original on March 18, 2020.RetrievedOctober 9,2022.
  9. ^Pagliarulo, Ned (February 4, 2020)."Regeneron partners with US government to develop coronavirus treatment".BioPharma Dive.Washington, D.C.: Industry Dive.Archivedfrom the original on February 27, 2020.RetrievedJuly 25,2021.
  10. ^https://markets.ft /data/announce/full?dockey=1330-8992408en-4SB6JLTDIDJHOAC14KRIJ3Q6L8
  11. ^Protard, Matthieu (May 25, 2020)."U.S.' Regeneron to buy back $5 billion stake held by Sanofi".Reuters.Ed. John Stonestreet.Archivedfrom the original on October 18, 2020.RetrievedOctober 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.RetrievedFebruary 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.RetrievedOctober 9,2022– via BioSpace.
  14. ^"Regeneron to Acquire Decibel Therapeutics, Strengthening Gene Therapy and Hearing Loss Programs".
  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".
  17. ^News Division (4 February 2020)."HHS, Regeneron Collaborate to Develop 2019-nCoV Treatment".HHS.gov.Archived fromthe originalon 22 January 2021.Retrieved8 October2020.
  18. ^Kelland, Kate (2020-09-14)."Regeneron's antibody drug added to UK Recovery trial of COVID treatments".Reuters.Retrieved2020-10-08.
  19. ^Morelle, Rebecca(2020-09-14)."Antibody treatment to be given to Covid patients".BBC News.Retrieved2020-10-08.
  20. ^"Regeneron's COVID-19 Response Efforts".Regeneron Pharmaceuticals Inc.Retrieved2020-10-08.
  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 fromthe originalon 18 December 2020.Retrieved8 October2020.
  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.Retrieved2020-10-08.
  23. ^Largacha, María Cecilia (6 August 2020)."2 ecuatorianos, cerca del medicamento contra el Covid-19".YouTube.Archivedfrom the original on 2021-12-21.Retrieved13 October2020.
  24. ^"Trump taking Regeneron drug, Remdesivir therapy for coronavirus diagnosis: ex-WH doctor explains".Associated Press.Associated Press. 2020-10-03.Retrieved2020-10-13.
  25. ^Cunningham, Paige Winfield."Analysis | The Health 202: Trump is taking Regeneron's new coronavirus treatment. It's used for mild symptoms"– via washingtonpost.
  26. ^Trump, Donald (7 October 2020)."A Message From The President!".Twitter.Retrieved7 October2020.
  27. ^Regeneron (7 October 2020)."Statement on REGN-COV2 Emergency Use Authorization Request (PDF)".Regeneron Pharmaceuticals Inc.Retrieved8 October2020.
  28. ^Conover, Damien (January 19, 2021)."Biopharma Companies With COVID-19 Treatments See $10 Billion Market in 2021".Morningstar.Archived fromthe originalon 2021-01-20.Retrieved2021-01-19.
  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 fromthe originalon June 25, 2013.
  31. ^"FDA approves Praluent to treat certain patients with high cholesterol"(Press release). U.S.Food and Drug Administration(FDA). Archived fromthe originalon 2015-07-27.Retrieved2015-07-29.
  32. ^Tirrell, Meg (2018-05-01)."A $14,000 cholesterol drug gets a price cut as Regeneron, Sanofi strike deal with Express Scripts".CNBC.Retrieved2018-08-22.
  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.Retrieved14 October2020.Public DomainThis article incorporates text from this source, which is in thepublic 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 inHuman Monoclonal Antibodies: Methods and ProtocolsEd. Michael Steinitz. Springer Science+Business Media, 2014.ISBN978-1627035859
  41. ^"Regeneron Pharmaceuticals Revenue 2006–2021 | REGN".Stock Research.MacroTrends. Table (Regeneron Pharmaceuticals Annual Revenue).RetrievedJuly 26,2021.
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