Eli Lilly and Company headquarters in Alcobendas, Madrid, Spain. Photo: Cristina Arias/Cover/Getty Images
Eli Lilly announced Thursday that it has agreed to supply the U.S. government with up to 600,000 doses of its developmental drug, bebtelovimab, in a deal worth at least $720 million.
Why it matters: Bebtelovimab is an antibody treatment that was found to neutralize COVID-19 variants, including Omicron, Lilly noted in its December report.
The big picture: The government will accept the doses if the treatment is granted an Emergency Use Authorization (EUA) by the Food and Drug Administration, the press release said.
- The company has submitted an EUA for the treatment for mild to moderate COVID disease in certain high-risk patients
- The 600,000 doses are set to be delivered by March 31, with the possibility of acquiring an additional 500,000 doses by July 31.