Regeneron Pharmaceuticals Investor Presentation — January 2021

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LEONARD S. SCHLEIFER MD, P hD

P R E S I D E N T & C E O

GEORGE D. YANCOPOULOS MD, P hD

P R E S I D E N T & C S OJP MORGAN 2021

This presentation includes forward -looking statements thatinvolve risks anduncertainties relating tofuture events andthefuture performance ofRegeneron Pharmaceuticals, Inc.(“Regeneron ”orthe“Company ”),andactual events orresults may differ

materially from these forward -looking statements .Words such as“anticipate, ”“expect, ”“intend, ”“plan, ”“believe, ”“seek, ”“estimate, ”variations ofsuch words, andsimilar expressions areintended toidentify such forward -looking statements, although notall

forward -looking statements contain these identifying words .These statements concern, andthese risks anduncertainties include, among others, theimpact ofSARS -CoV-2(thevirus thathascaused theCOVID -19pandemic) onRegeneron's business and

itsemployees, collaborators, andsuppliers andother third parties onwhich Regeneron relies, Regeneron's anditscollaborators ’ability tocontinue toconduct research andclinical programs, Regeneron's ability tomanage itssupply chain, netproduct sales

ofproducts marketed orotherwise commercialized byRegeneron and/or itscollaborators (collectively, "Regeneron ’sProducts"), andtheglobal economy ;thenature, timing, andpossible success andtherapeutic applications ofRegeneron ’sProducts and

Regeneron ’sproduct candidates andresearch andclinical programs now underway orplanned, including without limitation EYLEA®(aflibercept) Injection, Dupixent®(dupilumab ),Libtayo®(cemiplimab), Praluent®(alirocumab), Kevzara®(sarilumab ),

InmazebTM(atoltivimab ,maftivimab ,and odesivimab -ebgn ),casirivimab and imdevimab ,fasinumab ,evinacumab ,garetosmab ,Regeneron ’sand itscollaborators ’other oncology programs (including odronextamab (REGN 1979 )and REGN 5458 ),

Regeneron ’sanditscollaborators ’other hematology programs (including pozelimab (REGN 3918 )),Regeneron ’sanditscollaborators ’earlier -stage programs, andtheuseofhuman genetics inRegeneron ’sresearch programs ;safety issues resulting from

theadministration ofRegeneron ’sProducts andproduct candidates inpatients, including serious complications orside effects inconnection withtheuseofRegeneron ’sProducts andproduct candidates inclinical trials ;thelikelihood, timing, andscope of

possible regulatory approval andcommercial launch ofRegeneron ’sproduct candidates andnew indications forRegeneron ’sProducts including without limitation EYLEA, Dupixent, Libtayo, Praluent, Kevzara, casirivimab andimdevimab ,fasinumab ,

evinacumab ,garetosmab ,odronextamab ,REGN 5458 ,andpozelimab ;thelikelihood andtiming ofachieving anyoftheanticipated milestones described inthispresentation ;theextent towhich theresults from theresearch anddevelopment programs