And I’m so proud the industry has risen. Account active The following is a transcript of an interview with Regeneron CEO Leonard Schleifer that aired Sunday, October 11, 2020, on “Face the Nation.”. MARGARET BRENNAN: So President Trump was given this cocktail and he has since said that it was both a cure, and that he is now immune. SCHLEIFER: — if we’re going to provide enough of this. SCHLEIFER: Could be months, could be years. When the virus comes in your system, your immune system is trying to create immunity. The treatment, which is called a monoclonal antibody cocktail, works in a vaccine-like way, aiming to boost an individual’s immune defenses before more severe symptoms take root. Thank you, Doctor, for your time. "All we can say is that they asked to be able to use it, and we were happy to oblige," Schleifer told The Times Friday. There were nearly 60,000 people infected in this country on Friday alone, just on Friday. After news broke last weekend that President Donald Trump tested positive for COVID-19, Regeneron CEO Leonard Schleifer ’73 was once again thrust into the spotlight, running the biotech company responsible for the experimental antibody cocktail that the president is taking to treat his symptoms. MARGARET BRENNAN: Well, and exactly that point, providing enough is a key question. They met because Schleifer is a member at the Trump National Golf Club in Westchester County, near Regeneron's headquarters. MARGARET BRENNAN: Understood. I’m just saying we as- as a society. AstraZeneca is involved. And those are ongoing. Then we might think about if somebody in the nursing home gets it. These money and investing tips can help you prepare for the future even though you can’t predict it SCHLEIFER: Yes, it does. But what are antibodies, and how can they be repurposed into drugs to help people recover from COVID-19? Where that research should be done, that’s a good debate to have. Please email covidtips@businessinsider.com and tell us your story. SCHLEIFER:– while we’re building this plane and flying it at the same time to be ready to answer some of those questions as well. SCHLEIFER: Right. Both Regeneron and the FDA approved the president's request to take the drug, and he was given the higher of the two doses currently being studied. I want to ask you something specific to how your drug was developed. If people who are very sick are exposed to people, people who don’t have good immune systems. Schleifer, the son of a sweater manufacturer who worked as a code breaker during World War II, was raised in a home on Queens Boulevard in New York City, just blocks away from his future business partner George Yancopoulos, but the two did not meet until decades later, Forbes reported. "I am a product of my environment who became the obsessive-compulsive science guy.". Although, there are some very interesting aspects of his case, such as he was elderly, he had some risk factors, and that he did not have his own immune system in gear when he was sick and he got treated with our immune system in a vial, if you will. Since the drug is still in experimental stages, it’s not available to the general public through any means other than a clinical trial. SCHLEIFER: These are all really important questions, which we’re trying to- our best–. Yancopoulos also told The Times that the company is expecting a wave of new requests for the drug from sick patients following the president's usage of it, but a Regeneron spokesperson said that "our first priority is to maintain a sufficient supply in order to conduct rigorous clinical trials.". Although the drug has yet to be approved by the FDA for use in emergency situations, President Trump was able to gain access to it through a special provision called "compassionate use" that allows patients to take drugs still going through trials when no other treatment is available. So stay with us. Regeneron and CEO Leonard Schleifer ’73 have gained recognition for the experimental drug cocktail that has shown promising results in treating the initial symptoms of COVID-19 infections. And we will be back with Dr. Scott Gottlieb. It was- it’s a standard cell line that was derived over 50 years ago. With the help of $500 million in federal funding, Regeneron is developing an experimental drug to combat COVID-19 in those that have already been infected using an "antibody cocktail," per The New York Times. He was the valedictorian of his class at New York's elite Bronx High School of Science and was a semifinalist in a national high-school science competition, The Wall Street Journal reported. What I think that the administration has been working recently- I saw an announcement with- with AstraZeneca. Leonard Schleifer and George Yancopoulos, the leaders of the pharmaceutical giant Regeneron, built a multibillion-dollar company with a reputation for producing drugs at a breakneck pace and built fortunes that rival the president's in the process. It can be used we think, as a prophylactic. That’s an experimental treatment that has been received by only 10 other people outside of ongoing clinical trials. And so it’s used as a research tool. (https://cornellsun.com/2020/10/08/regeneron-ceo-leonard-schleifer-73-involved-in-trump-experimental-covid-19-treatment/), Regeneron CEO Leonard Schleifer ’73 brought the biotech company from a start-up to a "powerhouse.". Still, neither drug has received authorization for emergency use from the Food and Drug Administration, The Times reported. Remote Work May Make Applicant Pool More Competitive, Professor Says, Harnessing the Human Immune System: Why Antibody Treatments Might Just Work Against COVID-19. Both of their fortunes largely stem from their stakes in Regeneron. SCHLEIFER: –but it’s just low down on the evidence scale that we really need. "He has always just been our weird, silly, always-there-for-us dad," Yancopoulos' daughter Nia told Westchester Magazine, even when "he was off curing the world's biggest diseases.". Yancopoulos joined Regeneron in 1989. Regeneron in that FDA emergency use authorization application that you said you made this past week, said there are doses ready for 50,000 patients. Representatives of Schleifer and Yancopoulos at Regeneron did not immediately respond to Business Insider's request for comment on the billionaires' personal histories, net worths, or careers at Regeneron. If you get it in the form of a vaccine, it’s hoped that it might last for years. Schleifer handles the business end of Regeneron's operations, while Yancopoulos heads up the medical research needed to develop the company's products, according to Forbes. Just last year, Schleifer was named Cornell Entrepreneur of the Year for being “a powerhouse in biotech,” according to a University press release. We need the entire industry. We’re partners with Roche, one of the best companies in this whole field. SCHLEIFER: It’s just- so let’s not- we shouldn’t exaggerate the situation. We want to go now to the CEO of Regeneron, Dr. Leonard Schleifer, who joins us from Westchester, New York, this morning. I wasn’t suggesting you are. The Cornell Daily Sun Schleifer knows President Trump "casually," The New York Times reported. And there were shortages of that, which is why I ask you. Nevertheless, Schleifer says he hasn’t shown Trump favoritism in allowing doctors to use the drug, since “he is not the first patient to be granted permission to use the treatment this way,” but “asking somebody like the president to go into a clinical trial just wasn’t practical,” Schleifer explained in an interview with The New York Times. "When it's the president of the United States, of course, that gets — obviously — gets our attention. Schleifer spends most of his time in the affluent New York suburb of Chappaqua, but also owns a 15-acre estate in Martha's Vineyard, Curbed reported. President Donald Trump is now "in a race" against the coronavirus, the CEO of biotechnology company Regeneron said Friday after the drug maker provided a … Regeneron has produced six different drugs with this process, including its biggest moneymaker, vision loss treatment Eylea. Here's the inside story of the biotech and its 2 billionaire founders. The company is uneasy about giving priority use for the drug to certain patients. Amgen is involved. since. In some cases, vaccines can last for decades. The CEO met with Trump and his coronavirus task force in early March. Save my name, email, and website in this browser for the next time I comment. The following is a transcript of an interview with Regeneron CEO Leonard Schleifer that aired Sunday, October 11, 2020, on “Face the Nation.” MARGARET BRENNAN: Soon after the president was diagnosed with COVID-19, he was given Regeneron’s antibody cocktail. Trump just received Regeneron's experimental COVID-19 treatment. The billionaires have also worked together professionally. Regeneron jumped as much as 9.7% on Monday alone after Trump took its antibody cocktail. Before founding Regeneron in 1988, Schleifer earned both a medical degree and a Phd from the University of Virginia and was an assistant professor of neurology at Weill Cornell Medical College, per Forbes. Sunday, October 11 2020 . SCHLEIFER: Yeah. Regeneron has also worked on treatments for Ebola and MERS, endeavors that helped prepare the company for its work on the coronavirus, Business Insider's Andrew Dunn reported. SCHLEIFER: Right, well, they bought from us several hundred thousand, maybe around 300,000 doses, which they are going to make it for free. Black-Scholes is involved. But it’s probably the debate we need to have right now. We’re doing a trial to see whether or not if you live in the household of somebody who’s got it, whether it would stop you from getting it. Ideally, the drug treatment would be available to many patients as soon as possible to transform COVID-19 from a life-threatening disease to a manageable illness. The vulnerable people, elderly people, people who are at high risk, household contacts perhaps. And that would be very important evidence that we hope to get the not too distant future. According to your company, the antibodies in it were developed using cells that were derived from fetal tissue, a cell line known as 293T. He's an inventor and a scientist?". And let us make sure that if it does work, it’ll be available. "Varsity Blues" college admissions scandal, coronavirus business & economic impact analysis, How electric truck startup founder Thomas Healy went from teen racer to self-made billionaire and youngest CEO of a publicly traded company, 5 tax breaks Trump took advantage of that the average American can't. MARGARET BRENNAN: It’s not even enough for one day of infection. The son of Greek immigrants who had been refugees in Turkey, Yancopoulos excelled at science from an early age, Forbes reported. Should the president and the administration reconsider it, given that this breakthrough was possible using those kind of cells?
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