Regeneron is a biotechnology company that discovers, develops, manufactures, and commercializes medicines for serious diseases. Its business is built around two core franchises. Dupixent (dupilumab) is a monoclonal antibody targeting IL-4 and IL-13, proteins that drive allergic and inflammatory diseases. It is approved across eight conditions in the U.S., including atopic dermatitis, asthma, and COPD, and has over 1.4 million patients globally. Regeneron commercializes Dupixent alongside Sanofi, which records top-line sales; Regeneron recognizes its share of collaboration profits. EYLEA and EYLEA HD are anti-VEGF treatments injected into the eye to treat retinal diseases including wet age-related macular degeneration and diabetic macular edema. Regeneron sells EYLEA and EYLEA HD directly in the U.S. and shares ex-U.S. profits with Bayer. EYLEA HD, a higher-dose formulation allowing less frequent dosing, is growing while legacy EYLEA faces biosimilar pressure. Libtayo (cemiplimab), a PD-1 antibody for certain skin cancers and non-small cell lung cancer, is Regeneron's third commercial product. Regeneron's growth strategy focuses on expanding Dupixent into new indications, transitioning the retinal franchise to EYLEA HD, and advancing a large pipeline that includes a bispecific antibody for multiple myeloma, a LAG-3 antibody for melanoma, Factor XI anticoagulants, and a GLP-1/GIP agonist entering Phase 3 for obesity.