Regeneron Pharmaceuticals Investor Presentation — November 2019

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NO VEMBER 2 0 1 92NOTE REGARDING FORWARD -LOOKING STATEMENTS

AND NON -GAAP FINANCIAL MEASURES

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, thenature, timing, andpossible success andtherapeutic applications ofRegeneron’s products, product

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

Regeneron’s immuno -oncology programs (including itscostimulatory bispecific portfolio), Regeneron’s earlier -stage product candidates, andtheuseofhuman genetics inRegeneron’s research programs ;theextent towhich theresults from Regeneron’s

research programs orpreclinical testing may lead toadvancement ofproduct candidates toclinical trials ortherapeutic applications ;unforeseen safety issues resulting from theadministration ofproducts andproduct candidates inpatients, including serious

complications orside effects inconnection withtheuseofRegeneron’s product candidates inclinical trials ;thelikelihood andtiming ofpossible regulatory approval andcommercial launch ofRegeneron’s late-stage product candidates andnew indications

formarketed products, including without limitation EYLEA, Dupixent, Praluent ,Kevzara ,Libtayo ,fasinumab ,evinacumab ,REGN -EB3,andREGN 1979 ;thelikelihood andtiming ofachieving anyoftheanticipated milestones described inthispresentation ;

theextent towhich theresults from theresearch anddevelopment programs conducted byRegeneron oritscollaborators may bereplicated inother studies andlead totherapeutic applications ;ongoing regulatory obligations andoversight impacting

Regeneron’s marketed products (such asEYLEA, Dupixent, Praluent ,Kevzara ,andLibtayo ),research andclinical programs, andbusiness, including those relating topatient privacy ;determinations byregulatory andadministrative governmental authorities

which may delay orrestrict Regeneron’s ability tocontinue todevelop orcommercialize Regeneron’s products andproduct candidates ;competing drugs andproduct candidates thatmay besuperior toRegeneron’s products andproduct candidates ;