Page 20 - 2024 Westchester County Economic Development Guide

18
WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE
Regeneron
Expanding Its Westchester Footprint
Above: Regeneron’s portfolio addresses COPD, cancer, and rare genetic diseases. Opposite, Top: Regeneron received more than $310 million in incentives from Westchester County
to fuel its ongoing expansion.
Opposite, Center: Regeneron Co- Founders Leonard
S. Schleifer, M.D.,
PhD., and George D. Yancopoulos, MD, PhD Opposite, Bottom: With more than 13,400 employees, Regeneron is a major employer in New York State.
Tarrytown-based Regeneron currently has 12 FDA-approved or authorized medicines and 35+ programs in clinical development across multiple therapeutic areas. e Regeneron Genetics Center ®, known for its innovative research, celebrated its 10th anniversary 2023.
Expanding Its Westchester Base Currently occupying 2 million square feet of space in Westchester, Regeneron broke ground on its $1.8 billion expansion in Westchester County in June 2022. is ongoing, multi-year project will create at least 1,000 new, full-time, high-skill jobs in the Mid-Hudson Region over the next several years. e direct and indirect fiscal benefit to state and local government is estimated
to be more than $283.3 million, with a nearly $2 billion estimated economic benefit to New York State. In support of this initiative, e Westchester County Industrial Development Agency gave final approval of financial incentives in excess of $310 million.
A Robust Medicine Pipeline
New FDA Approval for EYLEA ® HD (aflibercept): e FDA approved EYLEA HD, to treat patients with wet age-related macular degeneration, diabetic macular edema
and diabetic retinopathy – eye conditions that can lead to vision loss.
New FDA Approval of VeopozTM (pozelimab-bbfg) for CHAPLE Disease:
e FDA has approved VeopozTM for treating CHAPLE, an inherited immune disease, in adults and children over one year old. Veopoz is now the first and only drug specifically indicated for this rare disease.
Promising Results for Dupixent ® (dupilumab) in
COPD Treatment:
Regeneron reported encouraging results from late-stage studies on a condition called chronic obstructive pulmonary disease (COPD). Its drug, Dupixent®, shows potential to be the first biologic therapy for treating COPD.
Milestones for Libtayo ® (cemiplimab): Libtayo celebrated five years since its first FDA approval in the U.S. for treating advanced cutaneous squamous cell carcinoma (CSCC),
a type of skin cancer. Additionally, in 2023, the European Commission approved Libtayo combined
with chemotherapy for treating advanced non-small cell lung cancer (NSCLC) in adults as a first-line treatment, marking Regeneron's second indication in this cancer type in Europe.
Based in Westchester since its inception 36 years
ago, Regeneron (NASDAQ: REGN) invents, develops and commercializes life-transforming medicines for people with serious diseases. Regeneron has 13,400+ employees, over 3,700 of which work in Westchester.
© Courtesy of Regeneron