By Josh Beckerman

Regeneron Pharmaceuticals Inc.'s Covid-19 antibody cocktail REGEN-COV has received an expanded Emergency Use Authorization from the Food and Drug Administration.

The expanded authorization enables use for post-exposure prophylaxis in certain people exposed to a SARS-CoV-2 infected individual, or who are at high risk of exposure to an infected person in institutional settings such as nursing homes or prisons.

Regeneron said use of the cocktail in the U.S. "is rapidly increasing to address ongoing outbreaks."

The seven-day average of new Covid-19 cases in the U.S. approached 64,000 on July 29, up from 11,480 on June 19, while the pace of vaccinations has slowed.

"With this authorization, the FDA specifically highlights the needs of immunocompromised people, including those taking immunosuppressive medicines," the company said.

Regeneron said that in those who require repeat dosing for ongoing exposure, REGEN-COV can also now be administered monthly.

Research results released last month showed that REGEN-COV significantly reduced the risk of death for certain hospitalized Covid-19 patients.

Regeneron shares were recently down 1% to $578.28. The company's market capitalization is about $61.6 billion.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

July 30, 2021 14:39 ET (18:39 GMT)

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