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MarketScreener Homepage  >  Equities  >  Nyse  >  Eli Lilly and Company    LLY

ELI LILLY AND COMPANY

(LLY)
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Eli Lilly and : US to receive 300,000 vials of experimental COVID-19 antibody therapy

10/29/2020 | 11:31am EST
Red blood cells overlaid with a grey SARS-CoV-2 viral particle being destroyed by blue antibodies

Eli Lilly and Company have entered a $375 million agreement to supply the US government with 300,000 vials of bamlanivimab (LY-CoV555), an investigational neutralising monoclonal antibody for the treatment of mild to moderate COVID-19 in high-risk patients.

According to Lilly, under the terms of the agreement the vials will be accepted if the US Food and Drug Administration (FDA) grants bamlanivimab Emergency Use Authorisation (EUA). It added that following the EUA, delivery would commence over the course of two months. Based on product availability and medical need, the government will also be able to purchase up to 650,000 additional vials of the treatment through 30 June 2021.

The company said that it is partnering globally with governments and philanthropic organisations 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… - are fundamental to enable the most widespread and equitable access to our potential therapy,” said David Ricks, Lilly’s chairman and Chief Executive Officer. “The US is experiencing a surge in COVID-19 cases and associated hospitalisations, 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.”

The company added that it has been investing in large-scale manufacturing 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 authorisation. It also expects to continue to bring more manufacturing resources online throughout the year and therefore significantly increase supply in the first quarter of 2021.

US enters agreement for experimental prophylactic COVID-19 antibody cocktail…

The post US to receive 300,000 vials of experimental COVID-19 antibody therapy appeared first on European Pharmaceutical Review.

© Russell Publishing Limited, 2020. All Rights Reserved., source Trade Journals

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Financials (USD)
Sales 2020 24 408 M - -
Net income 2020 5 802 M - -
Net Debt 2020 11 301 M - -
P/E ratio 2020 30,0x
Yield 2020 1,56%
Capitalization 173 B 173 B -
EV / Sales 2020 7,55x
EV / Sales 2021 6,63x
Nbr of Employees 33 625
Free-Float 99,8%
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 181,58 $
Last Close Price 190,77 $
Spread / Highest target 19,0%
Spread / Average Target -4,82%
Spread / Lowest Target -37,1%
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Managers and Directors
NameTitle
David A. Ricks Chairman, President & Chief Executive Officer
Joshua L. Smiley Chief Financial Officer & Senior Vice President
Timothy J. Garnett Chief Medical Officer & VP-Global Medical
Aarti S. Shah Chief Information & Digital Officer, Senior VP
Daniel M. Skovronsky Chief Scientific Officer & Senior Vice President
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