Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

U.S. to buy 1.4 million additional doses of Regeneron's COVID-19 therapy

Published 09/14/2021, 07:45 PM
Updated 09/14/2021, 07:50 PM
© Reuters. FILE PHOTO: A large vaccination site is shown as people with preexisting health conditions are granted access to a vaccination during the outbreak of the coronavirus disease (COVID-19) in Inglewood, California, U.S., March 15, 2021. REUTERS/Mike Blake/Fi

(Reuters) -Regeneron Pharmaceuticals Inc said on Tuesday the U.S. government will buy 1.4 million additional doses of its COVID-19 antibody cocktail, REGEN-COV.

The cocktail, a combination of antibodies casirivimab and imdevimab, was authorized in November for emergency use by the U.S. Food and Drug Administration.

The new agreement brings the total doses purchased by the U.S. government to nearly 3 million.

The company, which completed its contract with the U.S. government of supplying 1.5 million doses in the second quarter, said it would supply the additional doses by Jan. 31 at a cost of $2,100 per dose. That values the latest contract at $2.94 billion.

© Reuters. FILE PHOTO: A large vaccination site is shown as people with preexisting health conditions are granted access to a vaccination during the outbreak of the coronavirus disease (COVID-19) in Inglewood, California, U.S., March 15, 2021. REUTERS/Mike Blake/File Photo

"While vaccination remains the first line of defense to decrease the burden of COVID-19, REGEN-COV is a key tool that reduces the risk of hospitalization or death by 70% in high-risk individuals when given early in the course of the infection," Regeneron (NASDAQ:REGN) Chief Executive Officer Leonard Schleifer said.

Shares of Regeneron were up 1.5% in trading after the bell.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.