US Pays $375 Million for Coronavirus Neutralizing Antibody Treatment

Indiana-based Eli Lilly and Co. announced an initial agreement with the U.S. government to supply 300,000 vials of bamlanivimab (LY-CoV555) 700 mg, an investigational neutralizing antibody, for $375 million. The initial agreement is for delivery over the 2-months following authorization and also provides the option to purchase up to an additional 650,000 vials through June 30, 2021.

Lilly stated in a press release on October 28, 2020, that it anticipates manufacturing up to 1 million doses of bamlanivimab 700 mg by the end of 2020, for use around the world.

David A. Ricks, Lilly's chairman, and CEO added: "We are partnering with governments and philanthropic organizations around the world to ensure a fair and transparent allocation of the limited supply of our antibody therapies to those who need it most, based on a global methodology using data from trusted research centers."

Bamlanivimab is a potent, neutralizing IgG1 monoclonal antibody (mAb) directed against the spike protein of SARS-CoV-2. It is designed to block viral attachment and entry into human cells, thus neutralizing the virus, potentially preventing and treating COVID-19.