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article imageU.S. to buy 300,000 doses of Eli Lilly coronavirus antibody drug

By Karen Graham     Oct 28, 2020 in Business
The U.S. government will pay Eli Lilly $375 million to supply 300,00 doses of its experimental antibody drug to treat the coronavirus, the company announced Wednesday, pending its receiving an emergency use authorization for the treatment from the FDA.
The U.S. drug-maker said the company would start delivering the 300,000 doses of its experimental antibody treatment drug over a two-month period, as soon as it gets its authorization for emergency use from the Food and Drug Administration (FDA).
The treatment, bamlanivimab, is the same one that the National Institute of Allergy and Infectious Diseases (NIAID) halted a study on Monday, citing data that suggested it was "unlikely" to help hospitalized patients recover from the virus.
However, on Monday, Eli Lilly said that all other studies of its monoclonal antibody drug, bamlanivimab, will continue, including one in recently diagnosed COVID-19 patients with mild to moderate symptoms and another in people at risk of infection
This study is what the company submitted a request to the U.S. Food and Drug Administration earlier this month for emergency use authorization of the drug to treat mild to moderate COVID-19 patients, reports Reuters.
Lilly's antibody therapy is similar to a drug from Regeneron that was given to Trump during his bout with COVID-19. The treatment uses monoclonal antibodies, which are made to act as immune cells in the human body. And even though Trump said his Regeneron treatment was a "cure," data shows antibody drugs are indeed promising, however, medical experts say it’s far from a cure as trials are still needed to determine how well it works, reports CNBC.
The cost per dose of Lilly's treatment amounts to $1,250 as per the contract, however, patients will not have to pay for the medicine, according to Business Insider.
Lilly, in a statement, said "patients will have no out-of-pocket costs for the medicine," although healthcare facilities may charge a fee for the administration of the treatment.
More about Eli Lilly antibody treatment, 300K doses, Us government, monoclonal antibodies, bamlanivimab
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