Regeneron Pharmaceuticals, Inc. (REGN) Bundle
A Brief History of Regeneron Pharmaceuticals, Inc.
Founded in 1988, Regeneron Pharmaceuticals, Inc. has established itself as a leader in biotechnology, focusing on the development of innovative medicines for serious diseases. The company is headquartered in Tarrytown, New York, and has grown significantly through a combination of internal research and strategic partnerships.
Key Milestones
- 1991: Regeneron went public, trading on the NASDAQ under the symbol REGN.
- 2011: The FDA approved EYLEA (aflibercept) for the treatment of age-related macular degeneration, which became a cornerstone of Regeneron's revenue.
- 2015: The company launched its second major drug, Dupixent (dupilumab), in collaboration with Sanofi, targeting asthma and atopic dermatitis.
- 2020: Regeneron received Emergency Use Authorization from the FDA for its COVID-19 monoclonal antibody cocktail, REGN-COV2.
Financial Performance
As of September 30, 2024, Regeneron reported a net income of $3,494.9 million for the nine months ended September 30, 2024, compared to $2,794.0 million for the same period in 2023. The company’s revenues for the same period were $10,412.8 million, up from $9,682.9 million in the prior year.
| Financial Metrics | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Net Income (in millions) | $3,494.9 | $2,794.0 |
| Total Revenues (in millions) | $10,412.8 | $9,682.9 |
| Earnings per Share (Diluted) | $30.23 | $24.57 |
| Research and Development Expenses (in millions) | $3,719.9 | $3,261.8 |
| Cash and Cash Equivalents (in millions) | $2,011.8 | $2,152.3 |
Market Position
Regeneron ranks among the top biopharmaceutical companies globally, with a robust pipeline that includes treatments for various conditions such as cancer, autoimmune diseases, and ophthalmic diseases. The company’s commitment to research and development is reflected in its significant investments, amounting to approximately $3,719.9 million in R&D for the nine months ended September 30, 2024.
Shareholder Activities
In January 2023, Regeneron’s board of directors authorized a share repurchase program of up to $3.0 billion. As of September 30, 2024, the company had fully utilized this program. A new program was authorized in April 2024 for an additional $3.0 billion.
| Share Repurchase Activity | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Number of Shares Repurchased (in millions) | 1.5 | 2.6 |
| Total Cost of Shares Repurchased (in millions) | $1,637.7 | $1,923.8 |
Future Outlook
Looking ahead, Regeneron continues to explore new therapeutic areas and expand its market reach. The company’s strategic focus on innovation and collaboration, combined with its strong financial position, positions it well for future growth.
A Who Owns Regeneron Pharmaceuticals, Inc. (REGN)
Ownership Structure
As of 2024, Regeneron Pharmaceuticals, Inc. is publicly traded on the NASDAQ under the ticker symbol REGN. The ownership structure includes institutional investors, individual shareholders, and company insiders. The following table summarizes the major shareholders:
| Shareholder Type | % Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 85.5% | 114.0 million |
| Insider Ownership | 5.0% | 6.7 million |
| Retail Investors | 9.5% | 12.7 million |
Major Institutional Shareholders
The largest institutional shareholders of Regeneron Pharmaceuticals include the following:
| Institution | % of Total Shares | Number of Shares |
|---|---|---|
| The Vanguard Group, Inc. | 8.7% | 11.7 million |
| BlackRock, Inc. | 8.1% | 11.0 million |
| Fidelity Investments | 7.3% | 9.9 million |
| State Street Corporation | 4.9% | 6.7 million |
| T. Rowe Price Associates, Inc. | 4.5% | 6.1 million |
Insider Ownership
Insider ownership reflects the shares held by executives and board members. Key insiders include:
| Name | Position | Shares Owned |
|---|---|---|
| Leonard S. Schleifer, M.D., Ph.D. | CEO | 3.5 million |
| George D. Yancopoulos, M.D., Ph.D. | President & Chief Scientific Officer | 2.0 million |
| Robert E. Landry | Chief Financial Officer | 0.5 million |
Recent Stock Performance
As of October 2024, the stock price of Regeneron Pharmaceuticals (REGN) is approximately $1,200 per share. The market capitalization stands at around $150 billion. The stock has exhibited a year-to-date performance of approximately 15% increase.
Financial Overview
Regeneron's financial performance for the nine months ended September 30, 2024, includes the following:
| Financial Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Revenues | $10.41 billion | $9.68 billion |
| Net Income | $3.49 billion | $2.79 billion |
| Net Income per Share (Diluted) | $30.23 | $24.57 |
Market Trends and Collaborations
Regeneron has strategic collaborations with Sanofi and Bayer, significantly impacting its revenue streams. The collaboration revenue for the nine months ended September 30, 2024, is as follows:
| Collaboration Partner | Collaboration Revenue |
|---|---|
| Sanofi | $3.32 billion |
| Bayer | $1.12 billion |
These collaborations have been essential for the commercialization of key products such as Dupixent and EYLEA, contributing to Regeneron’s overall financial health and market competitiveness.
Regeneron Pharmaceuticals, Inc. (REGN) Mission Statement
Company Overview
Regeneron Pharmaceuticals, Inc. is a fully integrated biotechnology company that invents, develops, manufactures, and commercializes medicines for serious diseases. The company focuses on areas such as eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, hematologic conditions, infectious diseases, and rare diseases.
Mission Statement
As of 2024, Regeneron's mission is to leverage advanced scientific research and innovative technologies to create and provide transformative medicines. The company emphasizes its commitment to improving the lives of patients by delivering high-quality, effective treatments for various conditions.
Financial Performance
Regeneron's financial performance reflects its successful operations and product commercialization. In the third quarter of 2024, the company reported revenues of $3,720.7 million, a significant increase from $3,362.7 million in the same period of 2023. The net income for the same quarter was $1,340.6 million, compared to $1,007.8 million a year earlier.
| Financial Metric | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | $3,720.7 million | $3,362.7 million | $358.0 million |
| Net Income | $1,340.6 million | $1,007.8 million | $332.8 million |
| Net Income per Share - Diluted | $11.54 | $8.89 | $2.65 |
Product Portfolio
Regeneron's product portfolio includes several key treatments that align with its mission to serve patients effectively. Notable products include:
- EYLEA® (aflibercept)
- Dupixent® (dupilumab)
- Libtayo® (cemiplimab)
- Praluent® (alirocumab)
- Kevzara® (sarilumab)
Research and Development
Regeneron invests heavily in research and development, with expenses reaching $1,271.5 million in Q3 2024, an increase from $1,075.3 million in Q3 2023. This commitment to R&D is integral to the company's mission of innovation and patient care.
| R&D Expense | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Research and Development | $1,271.5 million | $1,075.3 million | $196.2 million |
Collaboration and Partnerships
Regeneron collaborates with various partners, including Sanofi and Bayer, to enhance its product offerings and expand market reach. Collaboration revenues for Q3 2024 totaled $1,660.1 million, up from $1,438.3 million in Q3 2023.
| Collaboration Revenue | Q3 2024 | Q3 2023 | Change |
|---|---|---|---|
| Collaboration Revenue | $1,660.1 million | $1,438.3 million | $221.8 million |
Market Position and Future Outlook
Regeneron Pharmaceuticals, Inc. continues to strengthen its position in the biotechnology sector by focusing on innovation, patient-centric solutions, and strategic partnerships. The company's ongoing commitment to its mission is expected to drive future growth and success.
How Regeneron Pharmaceuticals, Inc. (REGN) Works
Company Overview
Regeneron Pharmaceuticals, Inc. is an integrated biotechnology company that focuses on the discovery, development, manufacturing, and commercialization of medicines for serious diseases. As of 2024, the company's core therapeutic areas include eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, hematologic conditions, infectious diseases, and rare diseases.
Financial Performance
For the three months ended September 30, 2024, Regeneron reported revenues of $3,720.7 million, compared to $3,362.7 million for the same period in 2023. The net income for the same period was $1,340.6 million, up from $1,007.8 million in 2023. For the nine months ended September 30, 2024, revenues were $10,412.8 million, an increase from $9,682.9 million in 2023, with net income reaching $3,494.9 million compared to $2,794.0 million in the previous year.
| Metric | Q3 2024 | Q3 2023 | Change | 9M 2024 | 9M 2023 | Change |
|---|---|---|---|---|---|---|
| Revenues | $3,720.7 million | $3,362.7 million | $358.0 million | $10,412.8 million | $9,682.9 million | $729.9 million |
| Net Income | $1,340.6 million | $1,007.8 million | $332.8 million | $3,494.9 million | $2,794.0 million | $700.9 million |
Product Portfolio
Regeneron’s product portfolio includes several key products that have received marketing approval:
| Product | Disease Area | Approval Territory |
|---|---|---|
| EYLEA® (aflibercept) | Wet age-related macular degeneration, Diabetic macular edema, Diabetic retinopathy | U.S., EU, Japan |
| Dupixent® (dupilumab) | Atopic dermatitis, Asthma, Chronic rhinosinusitis with nasal polyposis | U.S., EU, Japan |
| Libtayo® (cemiplimab) | Cutaneous squamous cell carcinoma, Non-small cell lung cancer | U.S., EU, Japan |
| Praluent® (alirocumab) | Hyperlipidemia | U.S., EU, Japan |
| Evkeeza® (evinacumab) | Homozygous familial hypercholesterolemia | U.S., EU, Japan |
Collaboration Revenues
Collaboration revenues are a significant part of Regeneron's financials, particularly from partnerships with Sanofi and Bayer. For the three months ended September 30, 2024, Regeneron's share of profits from collaboration with Sanofi amounted to $1,088.3 million, while collaboration with Bayer contributed $367.6 million.
| Collaboration Partner | Q3 2024 Share of Profits | Q3 2023 Share of Profits |
|---|---|---|
| Sanofi | $1,088.3 million | $863.0 million |
| Bayer | $367.6 million | $349.9 million |
Research and Development Expenses
Research and development (R&D) expenses remain a critical focus for Regeneron. For the three months ended September 30, 2024, R&D expenses were $1,271.5 million, compared to $1,075.3 million in Q3 2023. For the nine months ended September 30, 2024, R&D expenses reached $3,719.9 million, an increase from $3,261.8 million in the prior year.
| Expense Type | Q3 2024 | Q3 2023 | 9M 2024 | 9M 2023 |
|---|---|---|---|---|
| Research and Development | $1,271.5 million | $1,075.3 million | $3,719.9 million | $3,261.8 million |
Cash Flow Overview
For the nine months ended September 30, 2024, Regeneron reported cash flows provided by operating activities of $3,157.7 million. Cash flows used in investing activities totaled $2,818.7 million, while cash flows used in financing activities were $1,065.0 million.
| Cash Flow Type | 9M 2024 | 9M 2023 |
|---|---|---|
| Cash flows from operating activities | $3,157.7 million | $3,504.3 million |
| Cash flows used in investing activities | ($2,818.7 million) | ($3,118.9 million) |
| Cash flows used in financing activities | ($1,065.0 million) | ($1,344.0 million) |
Stockholder Equity and Share Repurchase Program
As of September 30, 2024, total stockholders' equity stood at $29,325.9 million, compared to $25,973.1 million in the previous year. Regeneron has an ongoing share repurchase program, having repurchased $1,637.7 million in shares during the nine months ended September 30, 2024.
| Period | Number of Shares Repurchased | Total Cost of Shares |
|---|---|---|
| 9M 2024 | 1.5 million | $1,637.7 million |
| 9M 2023 | 2.6 million | $1,923.8 million |
Employee Compensation and Headcount
Regeneron has seen an increase in average headcount, reaching 14,642 in Q3 2024 compared to 12,878 in Q3 2023. Employee-related costs, including stock-based compensation, have also risen, reflecting the company's growth and expansion efforts.
| Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Average Headcount | 14,642 | 12,878 |
| Stock-Based Compensation Expense | $225.1 million | $203.9 million |
How Regeneron Pharmaceuticals, Inc. (REGN) Makes Money
Revenue Streams
Regeneron Pharmaceuticals, Inc. generates revenue primarily through the sale of its pharmaceutical products, collaboration agreements, and other revenue sources.
| Revenue Source | Q3 2024 Revenue (in millions) | Q3 2023 Revenue (in millions) | Change (in millions) |
|---|---|---|---|
| Net Product Sales | $1,946.4 | $1,786.1 | $160.3 |
| Collaboration Revenue | $1,660.1 | $1,438.3 | $221.8 |
| Other Revenue | $114.2 | $138.3 | ($24.1) |
| Total Revenue | $3,720.7 | $3,362.7 | $358.0 |
Net Product Sales Breakdown
The primary products contributing to Regeneron's net product sales include:
| Product | Q3 2024 U.S. Sales (in millions) | Q3 2023 U.S. Sales (in millions) | Change (in millions) |
|---|---|---|---|
| EYLEA HD | $392.3 | $42.7 | $349.6 |
| EYLEA | $1,144.6 | $1,448.2 | ($303.6) |
| Libtayo | $194.5 | $144.1 | $50.4 |
| Praluent | $52.9 | $40.4 | $12.5 |
| Evkeeza | $32.4 | $19.1 | $13.3 |
| Inmazeb | $35.6 | $3.3 | $32.3 |
| Total Net Product Sales | $1,946.4 | $1,786.1 | $160.3 |
Collaboration Revenues
Collaboration revenues are derived from partnerships with companies such as Sanofi, Bayer, and Roche.
| Collaboration Partner | Q3 2024 Revenue (in millions) | Q3 2023 Revenue (in millions) | Change (in millions) |
|---|---|---|---|
| Sanofi | $1,263.4 | $1,064.5 | $198.9 |
| Bayer | $390.8 | $377.1 | $13.7 |
| Roche | $0.5 | ($5.7) | $6.2 |
| Total Collaboration Revenue | $1,660.1 | $1,438.3 | $221.8 |
Operating Expenses
Regeneron’s operating expenses include research and development (R&D), selling, general, and administrative (SG&A) expenses.
| Expense Type | Q3 2024 Expense (in millions) | Q3 2023 Expense (in millions) | Change (in millions) |
|---|---|---|---|
| Research and Development | $1,271.5 | $1,075.3 | $196.2 |
| Selling, General, and Administrative | $714.4 | $640.5 | $73.9 |
| Cost of Goods Sold | $262.3 | $224.5 | $37.8 |
| Total Operating Expenses | $2,541.2 | $2,251.7 | $289.5 |
Net Income
Net income reflects the profitability of Regeneron for the corresponding periods.
| Period | Net Income (in millions) | Net Income per Share - Diluted |
|---|---|---|
| Q3 2024 | $1,340.6 | $11.54 |
| Q3 2023 | $1,007.8 | $8.89 |
Cash Flow Overview
Cash flows from operating, investing, and financing activities for the nine months ended September 30, 2024, are summarized as follows:
| Cash Flow Type | 2024 (in millions) | 2023 (in millions) | Change (in millions) |
|---|---|---|---|
| Operating Activities | $3,157.7 | $3,504.3 | ($346.6) |
| Investing Activities | ($2,818.7) | ($3,118.9) | $300.2 |
| Financing Activities | ($1,065.0) | ($1,344.0) | $279.0 |
Future Prospects
Regeneron’s ongoing strategies include expanding its product lines and enhancing collaborations with partners to drive future revenue growth.
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Article updated on 8 Nov 2024
Resources:
- Regeneron Pharmaceuticals, Inc. (REGN) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Regeneron Pharmaceuticals, Inc. (REGN)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Regeneron Pharmaceuticals, Inc. (REGN)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.