REGENERON PHARMACEUTICALS, INC. — Director's Dealing 2012

May 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: REGENERON PHARMACEUTICALS INC (REGN)
CIK: 0000872589
Period of Report: 2012-05-18

Reporting Person: SHOOTER ERIC M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-18	Common Stock	M	2000.0	$18.61	Acquired	2000.0	Direct
2012-05-18	Common Stock	S	2000.0	$124.04	Disposed	0.0	Direct
2012-05-21	Common Stock	M	8000.0	$18.61	Acquired	8000.0	Direct
2012-05-21	Common Stock	S	8000.0	$123.23	Disposed	0.0	Direct
2012-05-21	Common Stock	M	10000.0	$24.41	Acquired	10000.0	Direct
2012-05-21	Common Stock	S	10000.0	$124.07	Disposed	0.0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-18	Non-Qualified Stock Option (right to buy)	$18.61	M	2000.0	Disposed	2019-01-02	Common Stock (2000.0)	Direct
2012-05-21	Non-Qualified Stock Option (right to buy)	$18.61	M	8000.0	Disposed	2019-01-02	Common Stock (8000.0)	Direct
2012-05-21	Non-Qualified Stock Option (right to buy)	$24.41	M	10000.0	Disposed	2020-01-04	Common Stock (10000.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5000.0	Indirect

Footnotes

F1: Represents volume-weighted average price of sales of 2,000 shares of Company stock on May 18, 2012 at prices ranging from $124.05 to $124.08. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on May 18, 2012 at each separate price.

F2: Represents volume-weighted average price of sales of 8,000 shares of Company stock on May 21, 2012 at prices ranging from $123.00 to $123.50. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on May 21, 2012 at each separate price.

F3: Represents volume-weighted average price of sales of 10,000 shares of Company stock on May 21, 2012 at prices ranging from $124.00 to $124.32. Upon request by the Commission staff, the Company, or a security holder of the Company, the reporting person will provide full information regarding the number of shares sold by the reporting person on May 21, 2012 at each separate price.

F4: The stock option becomes exercisable in three equal annual installments, commencing one year after the date of grant

F5: Exercisable date, exercise date, exercise price, purchase price, sales price, and/or expiration date is/are not applicable in this case.