© Reuters. FILE PHOTO: FILE PHOTO: Eli Lilly logo is shown on one of their offices in San Diego

(Reuters) – Drugmaker Eli Lilly (NYSE:) and Co said on Friday the U.S. government has agreed to buy at least 100,000 doses of its newly authorized COVID-19 dual antibody cocktail for $210 million, with doses to be delivered through March-end.

The U.S. government will have the option to purchase up to an additional 1.1 million doses through Nov. 25, the company said.

Lilly said it would begin shipping these doses immediately.

The therapy contains two antibodies bamlanivimab and etesevimab and had got U.S. emergency use authorization earlier this month.

Like rival Regeneron Pharmaceuticals Inc (NASDAQ:)’s dual antibody therapy REGN-COV2, Lilly’s combo has been authorized for the treatment of mild to moderate COVID-19 in patients who are at high risk of progressing to severe disease or hospitalization.

Lilly’s therapy helped cut the risk of hospitalization and death in COVID-19 patients by 70%, according to early late-stage trial data put out in January.

Despite the government’s efforts to encourage use of the treatments to help keep people out of hospitals, the therapies have seen weak demand.

Healthcare systems have said they have been slow to ramp up use of the antibodies due to extra levels of complexity during the pandemic, including requirements for quick diagnosis times and the need to isolate infectious patients.

United States had already agreed to buy 1.45 million doses of bamlanivimab alone, Lilly said, adding that 1 million of doses have already been delivered and 450,000 additional doses will be delivered by March-end.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link