seven01trades
Oct 1, 12:20 PM
$REGN $SNY — Confirmed
$8B immunology expansion: Regeneron Pharmaceuticals and Sanofi expanded their long-running immunology partnership to cover four next-generation long-acting antibodies. Sanofi will pay Regeneron
$1B upfront, with REGN eligible for up to another
$7B in milestones. Future development/commercialization costs and profits will be shared 50/50. Sanofi
One program, REGN20423, is already in Phase 1 for atopic dermatitis, with three additional antibodies expected to enter clinical trials in 2027. Importantly, the existing economics around blockbuster Dupixent remain unchanged. This is a substantial validation of Regeneron's next-generation immunology pipeline, not merely an early-stage research collaboration.
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