Regeneron Pharmaceuticals (NASDAQ: REGN) is a growing biotech company that generates a ton of free cash flow. Over the years, it has obtained approval or authorization for 12 medicines. Its strong in-house development has made it one of the larger healthcare stocks in the world, with a market capitalization in excess of $90 billion.

In five years, shares of Regeneron have risen close to 130%, soundly outperforming the S 500 index and its more modest 87% gains. The business has been a popular investment option for growth-oriented investors. But where will Regeneron be a year from now, and is it still a good investment to hold in your portfolio today?

One early development that investors should watch for in 2024 is the potential approval and launch of odronextamab. In September, Regeneron announced that the U.S. Food and Drug Administration granted a priority review for its Biologics License Application for odronextamab, which is a treatment for the two most common types of non-Hodgkin lymphoma: relapsed/refractory follicular lymphoma and relapsed/refractory diffuse large B-cell lymphoma. The PDUFA date is set for March 31, 2024.

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Source Fool.com