Regeneron, based in Tarrytown, N.Y., has seen its share price increase 220% over the past two years as its drug Eylea, a treatment for age-related macular degeneration, has reached $1.9 billion in annual sales and new experimental medicines for high cholesterol, rheumatoid arthritis, and asthma near that market as part of a deal with drug giant Sanofi.
Regeneron had annual sales of $2.1 billion, a 53% increase from the year before, and the company sports a market capitalization of $33.7 billion. (...)
It was the mid-1980s. He began to see a lot of papers coming from Genentech, one of the first biotechnology companies. “What is a company doing all this great scientific stuff?” he asked himself. “I realized they were not only publishing stuff, they were doing the most modern science and it was really very impressive.” But no biotechnology company, he realized, was doing similar work on diseases of the nervous system.
Gilman tried to talk Schleifer out of going into business, telling him he had a great career ahead of him in medicine. But Schleifer wouldn’t be dissuaded. He managed to hook up with George Sing, a venture capitalist at Merrill Lynch, at a Chinese restaurant and walked out with $1 million in funding. Knowing that his own skills at the lab bench would not be enough, he recruited a 28-year-old scientist, George Yancopoulos, to be his co-founder. They have turned into one of biotech’s most enduring teams. (Más)
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