Regeneron Receives $450 million contract to develop COVID-19 “Antibody Cocktail”
http://thebcw.org/wp-content/uploads/2020/07/covid19.jpg
Regeneron Pharmaceuticals has received a $450 million contract from the federal government to manufacture and supply REGN-COV2, its investigational treatment of COVID-19. Initial doses are expected to be ready by the end of summer.
If the U.S. Food and Drug Administration grants emergency use authorization or in fact approves Regeneron’s treatment, the federal government would allocate those doses to treat COVID-19 patients, according to a statement from the Department of Health and Human Services (HHS). The medicine would then be available to Americans at no cost, however, health care professionals could charge insurers for the cost of administering the medicine.
“Regeneron’s thirty years of investment in our innovative VelociSuite antibody discovery and development technologies and our large-scale manufacturing facilities, coupled with the expertise and passion of our people, has enabled us to move the REGN-COV2 program forward at remarkable speed, said Leonard S. Schleifer, co-founder, president and CEO of the Tarrytown company.
The contract is part of the “Operation Warp Speed” program which seeks to deliver 300 million doses of a “safe, effective vaccine for COVID-19 by January 2021, as part of a broader strategy to accelerate the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics (collectively known as countermeasures), according to HHS.
Similar News Items
Broadview at Purchase College, a university-based retirement community on the campus of the State University of New York in Westchester, held its official Grand Opening Thursday bringing together a host of dignitaries to celebrate a unique concept that champions intergenerational connections and lifelong learning. More than 400 people attended the festivities throughout the day, beginning […]
The BCW has announced it is continuing its partnership with Pace University’s Lubin School of Business and the Business Council of New York State in conducting a fourth business poll. This poll will focus on key issues that organizations are facing throughout New York City, Long Island, and Westchester County. These surveys seek to better […]
The Business Council of Westchester’s (BCW) Westchester Innovation Network is helping the video feedback platform Jotto introduce its technology to residents of the Yonkers Housing Authority. Developed by Quadrant 2, Jotto is a pioneering platform that leverages groundbreaking social justice applications to redefine community engagement for local government and large organizations. Jotto, a BCW WIN […]
Become A Member
Join the county’s largest and most influential business organization today.
JOIN NOW!
Leave a Comment
You must be logged in to post a comment.