Regeneron Pharmaceuticals, Inc.
Regeneron Pharmaceuticals, Inc. discovers, invents, develops, manufactures, and commercializes medicines to treat various diseases worldwide. The company develops product candidates to treat eye, allergic and inflammatory, cardiovascular, metabolic, neurological, infectious, and rare diseases; and cancer, hematologic conditions. It also offers EYLEA injections for wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; retinopathy of prematurity; Dupixent injection to treat atopic dermatitis and asthma; Libtayo injection for metastatic or locally advanced cutaneous squamous cell carcinoma; Praluent injection to treat heterozygous familial hypercholesterolemia (HoFH); and Kevzara solution for rheumatoid arthritis. It has license and collaboration agreement with Bayer for the development and commercialization of EYLEA 8 mg and EYLEA; Alnylam Pharmaceuticals, Inc. to discover, develop, and commercialize RNAi therapeutics for diseases by addressing therapeutic disease targets expressed in the eye and central nervous system; Intellia Therapeutics, Inc. to advance CRISPR/Cas9 gene-editing technology for in vivo therapeutic development for therapies focused on neurological and muscular diseases; Hansoh Pharmaceuticals Group Company Limited to acquire development and commercial rights for HS-20094, a dual GLP-1/GIP receptor; and Tessera Therapeutics, Inc. develops and commercializes TSRA-196, an investigational gene editing therapy for Alpha-1 antitrypsin deficiency. Additionally, the company has a strategic collaboration with Telix Pharmaceuticals Limited to develop and commercialize radiopharmaceutical therapies. It also has a strategic collaboration with CytomX Therapeutics, Inc. to create conditionally-activated bispecific cancer therapies. The company was incorporated in 1988 and is based in Tarrytown, New York.
What does it do?
Regeneron is a biotech company that invents and sells medicines for serious diseases — think eye conditions that cause blindness, severe allergies, cancer, and rare genetic disorders. Their biggest product, EYLEA, is an injection given at your eye doctor's office that stops abnormal blood vessel growth that can steal your sight from conditions like macular degeneration — a leading cause of blindness in older adults. They also make Dupixent, a drug that treats severe eczema, asthma, and nasal polyps by blocking the immune signals that cause those conditions. Unlike many biotechs that just discover drugs and hand them off, Regeneron builds and sells its own medicines, which means it keeps more of the profit.
Regeneron is one of the few mid-sized biotechs that is genuinely profitable with a strong pipeline of new drugs — making it a rare mix of stability and growth potential in a sector that's often a gamble. Dupixent is becoming one of the best-selling drugs in the world, and several new approvals are expected in the next 1-2 years that could meaningfully grow revenue. In a market where investors are nervous about biotech risk, Regeneron's consistent earnings give it a different profile than most of its peers.
How does it make money?
Regeneron made $14.3 billion in revenue last year, a slight increase from $14.2 billion the prior year. The bulk of that comes from two main drugs: EYLEA, which it sells directly and also shares profits on with its partner Bayer outside the US, and Dupixent, which it co-develops and splits profits on with French pharma giant Sanofi. Dupixent alone is now generating over $13 billion in global net sales annually and is the primary growth engine. Regeneron also earns smaller but meaningful revenue from cancer drugs like Libtayo and antibody treatments it has developed for infectious diseases.
Why do investors care?
The core growth story is Dupixent expanding into more diseases — it's already approved for six conditions and has trials running for things like chronic obstructive pulmonary disease (COPD) and multiple other inflammatory conditions. If even a few of those trials succeed, the drug's revenue could grow significantly beyond where it is today. Investors also watch Regeneron's earlier-stage pipeline closely, including treatments for high cholesterol (Praluent), eye disease (EYLEA HD), and oncology. What has to go right: Dupixent keeps winning approvals in new diseases, EYLEA holds its ground against biosimilar competition (cheaper copycat versions), and the pipeline delivers at least one or two major new products.
Deep Dive
MemberA full investor briefing on Regeneron Pharmaceuticals, Inc. — history, leadership, risks, and outlook.