💊 Ticker: REGN 🧬💸
Price: $556.53 (-0.34%) as of Sep-09-2025
Market Cap: $59B (cheap for Big Bio!)

🎬 Quick Intro: When “The Big Short” Goes Big Pharma

Michael Burry isn’t just the guy Christian Bale played in The Big Short. He’s the contrarian doctor-turned-hedge-fund-legend who called the 2008 housing collapse, loves death-metal bands like Pantera 🤘, and occasionally sets Twitter (or should we say X) ablaze with cryptic posts.

And now? He’s quietly bet 16% of his portfolio on Regeneron Pharmaceuticals (REGN). That’s not a nibble. That’s conviction with a capital C. 🚀

So what does Burry see in Regeneron that makes him ditch safe havens for syringes? Let’s dig in.

📊 Scion Asset Management Portfolio Snapshot

Burry’s latest 13F shows a top-heavy biotech tilt:

• Regeneron Pharmaceuticals (REGN): 16.1% — New holding 🧪

• Estee Lauder (EL): 25.7% — Beauty meets chemistry 💄

• Lululemon (LULU): 16% — Yoga pants & pain 💔 (down nearly 40%)

• Bruker (BRKR): 15% — Lab equipment, not labradoodles 🧬

• MercadoLibre (MELI): 13.7% — Latin America’s Amazon 🛒

• UnitedHealth (UNH): 13.4% — Big Insurance 🏥

Notice the bet: biotech + healthcare make up nearly half his book. And REGN is his crown jewel pick. 👑

🧬 What Does Regeneron Actually Do?

Founded in 1988, Regeneron is a biotech beast out of New York. Its magic trick? Turning science into blockbuster drugs — think:

• Dupixent® (anti-inflammatory superstar): $14.3B in 2024 sales. Now treating asthma, eczema, nasal polyps, and more. Approved for 8 distinct indications! 💨🩸🌸

• EYLEA® / EYLEA HD® (eye drug): Helps patients see clearly again — until biosimilars cloud the picture. 👀

• Libtayo® (oncology): Fighting skin cancer and more. 🧑⚕️⚔️🦠

• Lynozyfic™ (just FDA-approved): For multiple myeloma — more ammo for their cancer pipeline. 💥

It’s a portfolio of growth engines, even as Eylea faces patent cliffs.

💵 Recent Financials — Healthy Pulse Check

Q2 2025 Highlights (vs Q2 2024):

• Revenue: $3.68B (+4%) 📈

• Dupixent sales (Sanofi partner): $4.34B (+22%) 🌍

• Eylea HD U.S. sales: $393M (+29%) 🔬

• GAAP EPS: $12.81 (+3%)

• Non-GAAP EPS: $12.89 (+12%) 💰

• FDA greenlights galore (Lynozyfic, Dupixent expansions, priority reviews incoming) ✅

Full-Year 2024 Recap:

• Revenue: $14.2B (+8%)

• Net Income: $4.4B (+12%)

• Initiated quarterly dividend ($0.88/share) 💵

• Expanded $4.5B buyback program 🔄

Not Tesla-style growth, but for a Big Pharma, those are impressive double-digit profit clips — with shareholder returns built in.

👉 Want the full picture? Dive into Regeneron Pharmaceuticals (REGN)'s financials here.

🧮 Valuation — From Pricey to Practically Cheap

Remember when REGN was a nosebleed stock at $1,211 in 2024? Now it’s more than 50% off its highs.

Current multiples (Q2 2025):

• P/E (TTM): 14.0 (was >30 a year ago!)

• Forward P/E: 14.3

• PEG: ~1.0 (growth adjusted — that’s value!)

• Price/Sales: 4.4 (half the biotech average)

• EV/EBITDA: 10.0

Translation: Wall Street rerated REGN from “expensive growth stock” to “cheap, profitable biotech.” Bargain bin for a company still innovating. 🛒

💪 Institutional Conviction

It’s not just Burry:

• Vanguard + BlackRock: ~19M shares combined, ~$10.4B invested.

• Dodge & Cox: boosted stake by 65% in 2025.

• 1,755 institutions hold over 90% of float.

If Wall Street were a poker game, the big dogs are all-in on REGN. 🃏

For Regeneron Pharmaceuticals (REGN)'s Institutional Ownership breakdown, 🔍 see here

🔬 Pipeline Power — What’s Cooking?

• Obesity drug COURAGE trial: GLP-1/GIP agonist (hello, Ozempic challengers!) ⚖️🍩

• Oncology: Expanding Libtayo, odronextamab, and linvoseltamab for blood cancers. 🧛♂️

• Eye health: Eylea HD syringe form + new trials. 👁️

• Inflammation: More Dupixent indications keep rolling in like iPhone updates. 📱

This isn’t a one-drug wonder — it’s a diversified lab of next-gen therapies.

🚨 Risks (Because Biotech Always Has Them)

1. Eylea patent cliffs + biosimilars = revenue erosion.

2. Trial failures: One flop (like itepekimab in COPD) can sink billions. 💸

3. Pricing pressure: Governments love yelling at drugmakers. Cut-throat competition doesn't help. 📢

4. Market sentiment: Biotech stocks can be moody — one FDA delay and boom, 10% if not way more gone. 💔

💡💡💡 Curious about another deep oil exploration play?
Check our takes on UnitedHealth Group or even Oscar Health.

🎸 Why Burry Might Love It (Heavy Metal Version)

• Cheap stock: P/E cut in half. Valuation attractive. 🤘

• Cash returns: Dividend + buybacks = shareholder candy. 🍬

• Diversified pipeline: Cancer, obesity, inflammation, eyes. 👀

• Long-term runway: Science doesn’t stop at recessions. 🧪

Add it all up, and REGN could regenerate portfolios just as it regenerates cells.

📈 Bottom Line: Is It Time to Buy?

• Top line: Growing modestly but consistently.

• Bottom line: Double-digit profit growth.

• Pipeline: Robust, with obesity drugs and oncology as moonshots. 🌙

• Valuation: Finally reasonable.

• Michael Burry: Betting 16% of his portfolio = 🚨 signal.

Verdict: REGN looks like one of the better “big biotech” buys out there. Not risk-free, but after a 50%+ haircut, the risk/reward tilts bullish.

🧾⚠️📢 Disclaimer: 🧾⚠️📢

We like Regeneron and love regeneration — but we’re not your financial advisor. We’re FUNancial advisors. We laugh, we analyze, we meme. We sell jokes and opinions — and yes, we’re billing your sense of humor. 🎪💸 

Investing in Regeneron may still get bumpy.🎢 Always DYOR, hold the FOMO, and don’t invest what you can’t afford to lose.

Invest at your own risk.

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