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

Regeneron Pharmaceuticals Inc. REGN,
+ 0.56%
said Tuesday evening that the US government has agreed to purchase an additional 1.25 million doses of the company’s COVID-19 antibody cocktail. This would bring the US supply of the cocktail, made up of antibodies to casirivimab and imdevimab, 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 providing doses to treat around 300,000 people, with President Donald Trump receiving the treatment when he fell ill with COVID-19 last year. “COVID-19 continues to make hundreds of thousands of Americans sick every day and the people of Regeneron are committed to helping,” Chief Executive Officer Leonard S. Schleifer said in a statement. “We are pleased to be working with the US government to provide our cocktail of antibodies as an important weapon in this fight.” Patients who received the cocktail in clinical trials “experienced significant reductions in virus levels and required fewer doctor visits for COVID-19, suggesting that the therapy may help reduce the current burden on hospitals and healthcare systems. health, ”the company said. The cocktail continues to be evaluated in clinical trials for the treatment of patients with COVID-19 in and outside hospitals, including a trial for the prevention of COVID-19 in household contacts of infected people, said the society. Regeneron shares rose nearly 5% in the extended session after the end of the regular trading day up 0.6%.