UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934
                                (Amendment No. )*


                          Regeneron Pharmaceuticals Inc.
                         ------------------------------
                                (Name of Issuer)


                                  Common Stock
                         ------------------------------
                         (Title of Class of Securities)


                                    75886F10
                         ------------------------------
                                 (CUSIP Number)




*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).









                                  SCHEDULE 13G

CUSIP No.   75886F10

1.    NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

            Warburg, Pincus Counsellors, Inc.
            13-2673503

2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*     (a) [ ]
                                                            (b) [ ]

3.    SEC USE ONLY

4.    CITIZENSHIP OR PLACE OF ORGANIZATION

            United States

                            5.   SOLE VOTING POWER               1,017,900

NUMBER OF                   6.   SHARED VOTING POWER               330,000
SHARES
BENEFICIALLY
OWNED BY
EACH                         7.  SOLE DISPOSITIVE POWER          1,665,700
REPORTING
PERSON                       8.  SHARED DISPOSITIVE POWER                0
WITH


9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      1,667,700

10.   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
      CERTAIN SHARES* [ ]

11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9                 7.92%

12.   TYPE OF REPORTING PERSON*

            Investment Advisor


                                *SEE INSTRUCTION





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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549
                                  Schedule 13G
                    Under the Securities Exchange Act of 1934

Amendment No.:                                                Date:  01/09/97


Item 1 (a)  Name of issuer:  Regeneron Pharmaceuticals Inc.
Item 1 (b)  Address of issuer's principal executive offices:

                 777 Old Saw Mill River Road
                 Tarrytown, NY  10591-6707

Item 2 (a) Name of person filing:

                 Warburg, Pincus Counsellors, Inc.

Item 2 (b) Address of principal business office:

                 466 Lexington Avenue
                 New York, NY  10017

Item 2 (c)  Citizenship:  United States

Item 2 (d)  Title of class of securities: Common Stock

Item 2 (e)  Cusip No.:  75886F10

Item 3      Type of Person:  Investment Advisor

Item 4 (a)  Amount beneficially owned:        1,667,700

Item 4 (b)  Percent of class:  7.92%

Item 4 (c)  (i)   sole power to vote:         1,017,900
            (ii)  shared power to vote:         330,000
            (iii) sole power to dispose:      1,665,700
            (iv)  shared power to dispose:            0

Item 5      Ownership of 5 percent or less of a class:  Not Applicable

Item 6      Ownership of more than 5 percent on behalf of another person:
            Warburg, Pincus Counsellors, Inc. serves as Investment Advisor to
            many accounts.  The securities which are the subject of this
            report are owned by our accounts.  None of these accounts,
            individually, own more than 5% of the securities which are the
            subject of this report.




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Item 7      Identification and classification of subsidiary:  Not Applicable

Item 8      Identification and classification of members of the group:
            Not Applicable

Item 9      Notice of dissolution of the group:  Not Applicable

Item 10     Certification:

            By signing below I certify that, to the best of my knowledge and
            belief, the securities referred to above were acquired in the
            ordinary course of business and were not acquired for the purpose of
            and do not have the effect of changing or influencing the control of
            the issuer of such securities and were not acquired in connection
            with or as a participant in any transaction having such purposes or
            effect.

            After reasonable inquiry and to the best of my knowledge and belief,
            I certify that the information set forth in this statement is true,
            complete, and correct.


                                                  /s/ Linda S. Iovan
                                              --------------------------------
                                                      Linda S. Iovan
                                                      Vice President





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