Eli Lilly to Provide the US Government with 300,000 vials of its COVID-19 Treatment for $375 Million

Eli Lilly and Company announced on Oct. 28, 2020 that it has entered into an agreement with the US government to supply 300,000 vials of bamlanivimab (LY-CoV555), an investigational neutralizing monoclonal antibody for the treatment of mild to moderate COVID-19 in high-risk patients, for $375 million.

Under the terms of the agreement, the government will accept the vials if Emergency Use Authorization (EUA) is granted by FDA, an Eli Lilly press release said. Delivery will commence over the course of two months following the EUA, and the government will have the ability to purchase up to 650,000 additional vials of the treatment through June 30, 2021 based on product availability and medical need. The company said in the release that it is partnering globally with governments and philanthropic organizations around the world to allocate the limited supply of antibody therapies.

"Lilly has leveraged our deep scientific capability to fight this pandemic, and we are proud of our efforts to develop potential medicines to combat COVID-19. Supply agreements with governments—such as this one with the US government to meet Operation Warp Speed goals—are fundamental to enable the most widespread and equitable access to our potential therapy," said David A. Ricks, Lilly's chairman and CEO, in the press release. "The US is experiencing a surge in COVID-19 cases and associated hospitalizations, and we believe bamlanivimab could be an important therapeutic option that can bring value to the overall healthcare system, as it has shown a potential benefit in clinical outcomes with a reduction in viral load and rates of symptoms and hospitalizations."

Lilly noted in the release that it has been investing in large-scale manufacturing at risk and anticipates producing up to one million doses of bamlanivimab 700 mg by the end of 2020, with 100,000 doses ready to ship globally after authorization. The company expects to continue to bring more manufacturing resources online throughout the year, and expects the therapy’s supply to increase significantly in the first quarter of 2021.

Source: Eli Lilly​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​