2024-06-11 10:07:05 ET
Regeneron Pharmaceuticals, Inc. (REGN)
Goldman Sachs 45th Annual Global Healthcare Conference
June 11, 2024, 08:00 AM ET
Company Participants
Ryan Crowe - Head of IR
Chris Fenimore - CFO
Conference Call Participants
Salveen Richter - Goldman Sachs
Presentation
Salveen Richter
Good morning, everyone. Thank you for joining us and welcome to Day 2 of the Goldman Sachs Healthcare Conference. We're really pleased to have the Regeneron team with us. We have Chris Fenimore, CFO; and Ryan Crowe, Head of IR.
Question-and-Answer Session
Q - Salveen Richter
With that Chris to start here. Could you walk us through how Regeneron approaches capital allocation? Specifically how you're thinking about allocation across internal R&D share buybacks noting the new 3 billion share repurchase program authorized in April, as well as M&A in partnership.
Ryan Crowe
Maybe before we get to that Salveen, just let me read this forward-looking statement. Thanks for having us. We really enjoy this conference every year and it's nice to be in Miami this year, too. So I'd like to remind you that remarks made today may include forward-looking statements about Regeneron and each forward-looking statement is subject to risk and uncertainties that could cause actual results and events to different material from those projected in such statements. Description of material risk and uncertainties can be found in Regeneron's SEC filings. Regeneron does not undertake any obligation to update any forward-looking statements whether as a result of new information, future events or otherwise. Chris?
Chris Fenimore
Thanks Salveen.
So our capital allocation strategy is essentially three pillars. First and foremost is investment in our own internal R&D capabilities. So, and we'll talk a little bit more about the pipeline as we go through the talk today. But George Yancopoulos and his team have an enormous number of shots on goal and that's where we think is the best place to put our capital in terms of long-term value for shareholders. In addition to R&D, we also invest in our manufacturing capabilities. Most recently we've invested in a fill package and labeling facility up in Rensselaer, New York....
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Regeneron Pharmaceuticals, Inc. (REGN) Goldman Sachs 45th Annual Global Healthcare Conference (Transcript)