History of Regeneron Pharmaceuticals in Timeline
Regeneron Pharmaceuticals, Inc., founded in 1988 and based in Westchester County, New York, is an American biotechnology company. Initially focused on neurotrophic factors and their regenerative properties, the company's research expanded to encompass cytokine and tyrosine kinase receptors. This expansion led to the development of their first product, a VEGF-trap.
1988: Founding by Schleifer and Yancopoulos
Regeneron Pharmaceuticals was founded in 1988 by CEO Leonard Schleifer and scientist George Yancopoulos.
1988: Company Founding and Initial Focus
Regeneron Pharmaceuticals, Inc. was founded in 1988. The company's initial focus was on neurotrophic factors and their regenerative capabilities, which inspired the company's name.
March 26, 2012: Collaboration with Sanofi on Cholesterol Drug
On March 26, 2012, Bloomberg reported that Sanofi and Regeneron were collaboratively developing a new drug to reduce cholesterol. The drug targeted the PCSK9 gene and was projected to outperform competitors by up to 72%.
July 2015: Immuno-oncology Collaboration with Sanofi
In July 2015, Regeneron announced a global collaboration with Sanofi to discover, develop, and commercialize new immuno-oncology drugs. This deal had the potential to generate over $2 billion for Regeneron.
October 2017: Deal with BARDA for Antibody-Based Medications
In October 2017, Regeneron secured a deal with the Biomedical Advanced Research and Development Authority (BARDA), with the U.S. government agreeing to fund 80% of the costs for the development and manufacturing of antibody-based medications. Regeneron retained control over pricing and production.
2019: Regeneron's Success and Recognition
By 2019, Regeneron Pharmaceuticals was recognized as the 7th best-performing stock of the 2010s, boasting a total return of 1,457%.
2019: Inclusion in Dow Jones Sustainability World Index
Regeneron was added to the Dow Jones Sustainability World Index in 2019.
February 4, 2020: Collaboration with U.S. Department of Health and Human Services on COVID-19 Monoclonal Antibodies
On February 4, 2020, the U.S. Department of Health and Human Services announced that Regeneron would focus on developing monoclonal antibodies to combat COVID-19. This announcement signaled a continuation of their existing partnership.
May 2020: Share Repurchase from Sanofi
In May 2020, Regeneron initiated a share repurchase, buying back approximately 19.2 million of its shares from Sanofi for around $5 billion. This transaction reduced Sanofi's stake in Regeneron.
July 2020: Operation Warp Speed Contract for REGN-COV2
In July 2020, Regeneron received a $450 million government contract under Operation Warp Speed to manufacture and supply its experimental COVID-19 treatment, REGN-COV2. This artificial "antibody cocktail" was undergoing clinical trials for treating and preventing SARS-CoV-2 coronavirus infection.
October 2020: President Trump's Use of REGN-COV2 and Emergency Use Authorization
In October 2020, President Donald Trump received REGN-COV2 as a treatment for COVID-19 under a compassionate use request before the drug's approval. This event brought significant attention to the experimental treatment and fueled discussions about its accessibility and affordability. Regeneron subsequently filed for emergency use authorization with the FDA.
November 2020: FDA Grants Emergency Use Authorization for REGN-COV2
The FDA granted emergency use authorization for REGN-COV2 in November 2020.
2020: Highest-Paid Pharmaceutical Executives
In 2020, Regeneron Pharmaceuticals gained attention for having the two highest-paid pharmaceutical executives.
2020: Controversy Surrounding BARDA Deal and COVID-19 Treatments
In 2020, Regeneron's deal with BARDA, which included funding for COVID-19 treatments, drew criticism in The New York Times. Critics questioned the implications of Regeneron's control over pricing and production despite significant government funding.
April 2022: Acquisition of Checkmate Pharmaceuticals
Regeneron acquired Checkmate Pharmaceuticals for approximately $250 million in April 2022. This acquisition aimed to bolster Regeneron's portfolio of immuno-oncology drugs.
August 2023: Acquisition of Decibel Therapeutics
In August 2023, Regeneron announced its acquisition of Decibel Therapeutics.
December 2023: Acquisition of Avon Products for R&D
In December 2023, Regeneron acquired Avon Products in Suffern, New York, with plans to repurpose the facility into Research & Development Laboratories.
April 2024: Acquisition of 2seventy Bio
In April 2024, Regeneron acquired 2seventy Bio.
