Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

GSK, Vir ramping up U.S. output of COVID antibody drug

Stock MarketsJan 21, 2022 12:26PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. GSK logo is seen in this illustration taken on January 17, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) - GlaxoSmithKline (NYSE:GSK) and U.S. partner Vir Biotechnology (NASDAQ:VIR) will boost production of their antibody-based COVID-19 treatment by adding a second manufacturing plant to help meet soaring demand in the United States.

The U.S. government last week signed a deal with the drugmakers to buy 600,000 more doses of the therapy, sotrovimab, for an undisclosed sum.

The GSK-Vir therapy has shown more promise against the Omicron variant in lab studies than treatments from major rivals Eli Lilly (NYSE:LLY) and Regeneron (NASDAQ:REGN).

"GSK had been planning to introduce another production facility to our manufacturing network in advance of Omicron," a GSK spokesperson told Reuters on Friday.

"The second site provides GSK additional scale and diversity given the pandemic uncertainty."

Deliveries of the 600,000 additional doses will be carried out through the first quarter of 2022, the spokesperson said.

The Wall Street Journal reported on Friday that GSK and Vir were expected to make the first deliveries in February.

The United States is reporting an average of 752,698 new coronavirus infections a day, according to a Reuters analysis of official data, fuelling the urgent need for effective solutions.

The Biden administration in November signed contracts worth about $1 billion for an unknown number of doses of sotrovimab before the rapid spread of Omicron, and has said it would control the distribution of the drug in the country.

GSK, Vir ramping up U.S. output of COVID antibody drug
 

Related Articles

Autodesk Reports Q1 Beat, Provides Outlook
Autodesk Reports Q1 Beat, Provides Outlook By Investing.com - May 26, 2022

By Davit Kirakosyan Autodesk (NASDAQ:ADSK) reported its Q1 results, with EPS of $1.43 coming in better than the Street estimate of $1.35. Revenue increased 18% year-over-year to...

Ulta Beauty Shares Surge 8% on Q1 Beat and Raise
Ulta Beauty Shares Surge 8% on Q1 Beat and Raise By Investing.com - May 26, 2022

By Davit Kirakosyan Ulta Beauty (NASDAQ:ULTA) shares were trading around 8% higher after-hours following the company’s reported Q1 results, with EPS of $6.30 coming in better than...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email