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US Government Calls For Additional Eli Lilly COVID-19 Antibody Therapy

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Vandana Singh
·1 min read
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  • The U.S. government has agreed to purchase a minimum of 100,000 doses of Eli Lilly and Co's (NYSE: LLY) COVID-19 antibody therapy combining bamlanivimab (LY-CoV555) 700 mg and etesevimab (LY-CoV016) 1400 mg.

  • The purchase agreement is for $210 million, and the doses will be delivered through March 31. The U.S. government will have the option to purchase up to an additional 1,100,000 doses through November 25.

  • Two weeks ago, bamlanivimab and etesevimab together received FDA emergency use authorization for recently diagnosed mild to moderate COVID-19 in patients at high risk of progressing to severe COVID-19 or hospitalization.

  • Additionally, the National Institutes of Health recommended the use of bamlanivimab plus etesevimab for outpatients with mild to moderate COVID-19 who are at high risk of clinical progression.

  • Price Action: LLY shares are up 1.07% at $206 premarket on the last check Friday.

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