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GEN News Highlights : Dec 22, 2006

Construction of Regeneron’s New Headquarters Green-lighted

Complex will consolidate company’s employees into a three-building campus.

Regeneron Pharmaceuticals signed a 15-year lease for a new corporate headquarters and research and development complex to be constructed adjacent to its current facility in Greenburgh, New York. Regeneron also has the option to extend the lease for three additional 5-year periods.

The new complex will consolidate Regeneron’s 440 Tarrytown,NY-based employees, currently scattered among six buildings, into a three-building, interconnected campus. The new facilities will include approximately 194,000 square feet of laboratory and office space in two buildings to be constructed over the next two years. The company will also retain its 27,000 square foot specialized VelociGene® research facility in an existing building in Tarrytown.