Regeneron says U.S. government to buy 1.25 million doses of its COVID-19 treatment

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Regeneron Pharmaceuticals Inc. said late Tuesday that the U.S. government has agreed to buy an additional 1.25 million doses of the company’s COVID-19 antibody cocktail. That would bring the U.S. supply of the cocktail, consisting of casirivimab and imdevimab antibodies, to more than 1.5 million doses. Under the new agreement, the government will purchase all finished doses of the cocktail delivered by June 30. Regeneron is already supplying doses to treat approximately 300,000 people, with President Donald Trump receiving the treatment when he fell ill with COVID-19 last year. “COVID-19 continues to sicken hundreds of thousands of Americans every day and the people of Regeneron are committed to help,” Chief Executive Leonard S. Schleifer said in a statement. “We are pleased to work with the U.S. government to supply our antibody cocktail as an important weapon in this fight.” Patients who received the cocktail in clinical trials “experienced significant reductions in virus levels and required fewer medical visits for COVID-19, suggesting the therapy can help reduce the current burden on hospitals and healthcare systems,” the company said. The cocktail continues to be evaluated in clinical trials for the treatment of COVID-19 patients in and outside of hospitals, including a trial for the prevention of COVID-19 in households contacts of infected people, the company said. Shares of Regeneron rose nearly 5% in the extended session after ending the regular trading day up 0.6%.
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