Regeneron (REGN), a major US biopharmaceutical company which develops, manufactures and markets new innovative drugs (to treat and repair eye tissues, treat cancer, rheumatoid arthritis, asthma), recently released a strong report for Q2 2015. According to the report, quarterly revenue climbed 50.0% y-o-y to USD 999 mn, outpacing forecast by 12%. Sales of Eylea, a drug to treat retinal vascular disorders, which rose 50.0% y-o-y to USD 655 mn in the US, became a revenue growth driver. Sales outside the US surged 37% y-o-y to USD 338 mn. Adjusted net profit was up 16.8% y-o-y to USD 2.89, outstripping expectations by 4.0%.Eylea was approved in Japan in June 2015. In addition, the company's new drug Praluent intended to reduce the level of cholesterol in the blood was approved in the US and Europe in January. Sarilumab, intended to treat rheumatoid arthritis, is on the 3rd trial phase as well as Dupilumab, a drug to treat atypical dermatitis and asthma. REGN2222, a drug intended to treat respiratory syncytial virus infection (RSV), is also in the 3rd trial phase. We believe that the company will continue to improve its financial performance. According to the Regeneron’s forecast for 2015, sales of Eylea will increase by 45-50% (previous forecast was 30-35%).We raised mid-term valuation of Regeneron (REGN) shares to USD 620 and rate the name as a Buy in the mid-term. The short-term technical target is USD 605.