[CNBC Television] Regeneron receives $450 million federal contract for Covid-19 antibody drug
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The U.S. government has provided Regeneron with $450 million contract to supply and manufacture its Covid-19 anti-viral antibody cocktail. CNBC’s Meg Tirrell reports. For more coronavirus live updates: For access to live and exclusive video from CNBC subscribe to CNBC PRO:
Regeneron Pharmaceuticals said on Tuesday the U.S. government signed a $450 million contract with the drugmaker to make and supply its potential double-antibody cocktail for Covid-19.
The cocktail, REGN-COV2, is in separate clinical trials assessing its effectiveness in preventing and treating Covid-19, the company said.
Regeneron signed the contract with the U.S. Department of Health and Human Services’ (HHS) Biomedical Advanced Research and Development Authority (BARDA) and the Department of Defense. The doses manufactured under the project will be owned by the federal government.
The contract comes under the government’s “Operation Warp Speed” program, aimed at accelerating access to vaccines and treatments to fight the coronavirus.
The government will support manufacturing REGN-COV2 for immediate use in the country, if the clinical trials are successful and the U.S. Food and Drug Administration grants emergency use authorization (EUA) or product approval.
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