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U.S. Buys $450M of Regeneron’s Experimental Covid-19 Antibody – Barron’s

Regeneron stock jumped 2% on Tuesday morning. The stock rose 0.8% on Monday on both positive and negative Covid-19 updates from the company: Disappointing results in a trial of its arthritis drug Kevzara in serious Covid-19 patients, and promising results in a small safety trial of the antibody cocktail.Regeneron is now testing the antibody cocktail both in people recently exposed to the disease, and in people suffering from the disease.
The new $450 million infusion of federal government money is coordinated as part of Operation Warp Speed, the governments effort to hurry Covid-19 vaccine development. The funding itself comes from a handful of government offices, including the Biomedical Advanced Research and Development Authority.
The other huge Operation Warp Speed deal announced Tuesday was from
(NVAX) which said it had received $1.6 billion from Operation Warp Speed to test its experimental Covid-19 vaccine.
According to Regeneron, if its antibody cocktail receives approval or an emergency use authorization from the Food and Drug Administration, the federal government will provide the doses it purchases to Americans free of charge.
The exact number of doses that the government will receive depends on the outcome of ongoing tests that seek to determine the effective dose of the drug. The company said the amount the $450 million would buy would likely be between 70,000 and 300,000 doses of the cocktail if used as a treatment for sick patients, or between 420,000 and 1.3 million if used to prevent infections.
At the low end, the U.S. government would be paying $1,500 per therapeutic dose; at the high end, the government would be paying $6,428 per therapeutic dose. According to, the two Regeneron studies of the cocktail in sick Covid-19 patients involve a treatment course of a single dose. Gilead priced its Covid-19 antiviral at $2,340 per treatment course.
As Barrons reported last month, antibody drugs have the potential to treat sick Covid-19 patients, but could also theoretically prevent people who had been exposed to the virus from getting sick, or even offer short-term vaccine-like immunity.
Write to Josh Nathan-Kazis at [email protected]

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