Jeffrey Meacham

Jeffrey Meacham from Citi asked about Regeneron's approach to utilizing its balance sheet for potential large-scale business development and the company's appetite for further expanding its manufacturing capabilities, particularly in owning all aspects of the manufacturing process.

Answer

Regeneron President and CEO, Leonard Schleifer, stated that the company is open to large deals if the right opportunity arises to create additional value. He highlighted Regeneron's long-standing advocacy for domestic manufacturing, including over $7 billion in planned investments, and confirmed that their own filling plant, a crucial missing piece, is expected to come online next year, aiming to control all aspects of standard biologics manufacturing.

Jeffrey Meacham inquired about Regeneron's strategy for utilizing its balance sheet for larger-scale business development and its appetite for further expanding manufacturing capabilities to own all elements of the production process.

Answer

President and CEO Leonard Schleifer stated that Regeneron is open to large deals if the right opportunity arises, emphasizing it's not a philosophical aversion. He reiterated Regeneron's long-standing commitment to domestic manufacturing, including over $7 billion in planned investments, and noted that their own filling plant, delayed by COVID, is expected to come online in the coming year to control all aspects of biologics manufacturing.