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
More than 450 from business, not-for-profits and government were on hand Tuesday evening for the Business Council of Westchester’s Annual Hall of Fame Awards Dinner. This year’s program, which was held at the Glen Island Harbour Club in New Rochelle, honored business leaders and organizations who have transformed their industries and added to the economic […]
Artificial intelligence, or AI, is impacting virtually every industry, offering opportunities to transform business as usual. Understanding the technology and how best to leverage its potential in real estate was the topic of a recent in-depth forum hosted by Fordham University’s School of Professional and Continuing Studies and The Business Council of Westchester. “Revolutionizing Real […]
In a big boost for the City of Yonkers, the owners of Ridge Hill held a groundbreaking this week for the launch of a major redevelopment plan. “It’s good to see a company like North American Properties that has the ability to run shopping centers with the success they’ve had in this changing retail market,” […]
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.