Understanding Regeneron Pharmaceuticals’ Operational Performance

In the third quarter of this year, Regeneron Pharmaceuticals’ (REGN) selling, general, and administrative expenses rose YoY (year-over-year) to $369.23 million from $306.77 million, primarily due to a higher employee headcount. Meanwhile, its R&D (research and development) expenses rose YoY to $556.97 million from $529.75 million. It had R&D expenses of $2.03 billion and $2.23 billion, respectively, in fiscal 2018 and fiscal 2019, compared with $2.07 billion in fiscal 2017.