REGENERON PHARMACEUTICALS, INC.

(REGN)
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Delayed Nasdaq  -  05/20 04:00:00 pm EDT
661.14 USD   +0.61%
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U.S. FDA to restrict use of Regeneron, Lilly COVID antibody drugs - WaPo

01/24/2022 | 01:54pm EDT

Jan 24 (Reuters) - The U.S. Food and Drug Administration (FDA) is likely to restrict the use of COVID-19 antibody treatments from Regeneron and Eli Lilly as they are ineffective against the Omicron variant, the Washington Post reported on Monday.

The FDA action will involve revising the emergency use authorizations for the monoclonal antibodies, the report said https://wapo.st/3KDk1YI, citing two senior administration health officials.

However, the agency will not revoke the emergency use authorizations in case the drugs work against a future COVID-19 variant, according to the report.

The FDA did not immediately respond to a Reuters request for comment, while a Regeneron spokesperson said the regulator would provide any potential communication on the topic.

Lilly had no immediate comment but pointed to its statement from December saying its antibody candidate, bebtelovimab, maintains neutralization activity against all known variants of concern, including Omicron.

The U.S. government in December paused distribution of the treatments and said the halt would continue until new data emerges on their efficacy against Omicron, which has quickly become the dominant strain in the United States and several other countries. (https://reut.rs/3FVKVHS)

U.S. health agencies, however, had said that GlaxoSmithKline and Vir Biotechnology's rival drug sotrovimab appeared to work against the variant and resumed shipments of the drug.

GSK and Vir Biotech are boosting production of their drug to help meet soaring demand in the United States. (Reporting by Amruta Khandekar; Editing by Devika Syamnath)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
GLAXOSMITHKLINE PLC 1.87% 1764 End-of-day quote.9.80%
REGENERON PHARMACEUTICALS, INC. 0.61% 661.14 End-of-day quote.4.69%
VIR BIOTECHNOLOGY, INC. -2.29% 24.36 End-of-day quote.-41.82%
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Financials (USD)
Sales 2022 11 844 M - -
Net income 2022 4 040 M - -
Net cash 2022 8 670 M - -
P/E ratio 2022 17,8x
Yield 2022 -
Capitalization 71 235 M 71 235 M -
EV / Sales 2022 5,28x
EV / Sales 2023 4,79x
Nbr of Employees 10 492
Free-Float 81,0%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 661,14 $
Average target price 689,35 $
Spread / Average Target 4,27%
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Managers and Directors
Leonard S. Schleifer Chairman, Co-President & CEO
George Damis Yancopoulos Co-President, Director & Chief Scientific Officer
Robert E. Landry Chief Financial Officer & Executive VP-Finance
P. Roy Vagelos Chairman
Neil Stahl SVP-Preclinical Development
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