ELI LILLY AND COMPANY

(LLY)
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Eli Lilly Gets $275 Million U.S. Pact for Covid-19 Antibody Drug

06/29/2022 | 05:27am EDT

By Colin Kellaher


Eli Lilly & Co. on Wednesday said it agreed to supply an additional 150,000 doses of its Covid-19 antibody drug bebtelovimab to the U.S. government for about $275 million.

The Indianapolis drugmaker said the new order should let the government meet current demand through late August.

The Food and Drug Administration in February granted emergency-use authorization to bebtelovimab, which retains effectiveness against the Omicron variant of Covid-19, filling a void after authorities stopped distributing some older antibody drugs that lost effectiveness against the strain.

Eli Lilly on Wednesday said bebtelovimab continues to maintain neutralization activity against the most common and fastest growing Omicron variants in the U.S., along with all known variants of interest and concern.

Eli Lilly in February said that it would supply up to 600,000 doses of bebtelovimab to the government for at least $720 million, and that the government had an option to buy a further 500,000 doses by the end of July. The company on Wednesday said an option for an additional 350,000 doses to be exercised by Sept. 14 remains in the agreement.


-Peter Loftus contributed to this article.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

06-29-22 0727ET

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Financials (USD)
Sales 2022 28 860 M - -
Net income 2022 6 375 M - -
Net Debt 2022 9 953 M - -
P/E ratio 2022 44,7x
Yield 2022 1,23%
Capitalization 301 B 301 B -
EV / Sales 2022 10,8x
EV / Sales 2023 10,2x
Nbr of Employees 35 000
Free-Float 99,7%
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Number of Analysts 23
Last Close Price 316,82 $
Average target price 327,10 $
Spread / Average Target 3,24%
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Managers and Directors
David A. Ricks Chairman, President & Chief Executive Officer
Anat Ashkenazi Chief Financial Officer & Senior Vice President
Daniel M. Skovronsky Chief Scientific Officer & Senior Vice President
Diogo Rau Senior VP, Chief Information & Digital Officer
Robert Wild Chief Scientific Officer
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