Description
Regeneron Pharmaceuticals, Inc. is an American biotechnology company headquartered in Westchester County, New York, about 25 miles north of Midtown Manhattan. The company was founded in 1988. 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.
Company history
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.
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, with $640 million upfront, $750 million for proof-of-concept data, and $650 million from the development of REGN2810. 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%. Regeneron Pharmaceuticals was home to the two highest-paid pharmaceutical executives as of 2020.
In October 2017, Regeneron made a deal with the US-government Biomedical Advanced Research and Development Authority that the government would fund 80% of the costs for Regeneron to develop and manufacture antibody treatments, including now their Coronavirus disease 2019 treatments, and Regeneron would retain the right to set prices and control production. This deal was criticized in The New York Times. Such deals are not unusual for routine drug development in the American pharmaceutical market.
In May 2020, Regeneron announced it would repurchase around $5 billion of its shares, held directly by Sanofi. Prior to the transaction, Sanofi held 23.2 million Regeneron shares
