Regeneron Investing $150mn in NY Campus

Regeneron Pharmaceuticals has opened two new buildings at its headquarters in Tarrytown, NY, housing 300,000 square feet of lab and office space. The rapidly expanding biotech now occupies more than one million square feet of space at the site.

At the grand opening, which was attended by New York State Governor Andrew Cuomo, Regeneron said it plans to invest an additional $150 million to further expand the Tarrytown campus, which will result in at least 300 more jobs.

This new expansion project will construct a building of up to 192,000 square-feet that will include more laboratory and office space. With more than 4,000 employees around the world, the company says it has hired 1,200 this year alone, 945 in New York. The slew of investments is being spurred by the success of the blockbuster eye treatment Eylea.

“New York has been Regeneron’s home since 1988, and the many scientific advancements made in our Tarrytown labs have yielded four approved treatments and an important pipeline of potential medicines for people with a range of serious diseases,” said Leonard Schleifer, president and chief executive officer, Regeneron.

In 1988, Regeneron was launched as a biotech start-up in New York City and today is rated as the largest biotech company in New York State and the fifth largest in the world.