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
In yet another example of Westchester County’s fast-growing health care sector, White Plains Hospital Physician Associates has begun opening its new offices at the former Lord & Taylor department store building in Eastchester. The hospital has leased space in the building that has a total of about 215,000 square feet on three floors at 750 […]
BCW Member Cross County Center is adding two new stores to its impressive retail roster. The new stores arriving later this summer include Build-A-Bear Workshop, an iconic interactive retail experience where guests can create their own personalized stuffed animals, and Levi’s. Both stores are slated to open late Summer 2025 and will be located at 8000 […]
Mount Kisco resident Matt McAllister, Chief Operating Officer at Statewide Abstract Corp, recently embarked on an extraordinary cycling challenge. On July 12, McAllister didn’t just aim to complete a grueling ride from New York City to Boston; he set out to break a record, all while raising money and awareness for the Business Council of […]
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.