LLY Eli Lilly and Co

By Matt Grossman

Eli Lilly & Co. said Wednesday it would supply to the U.S. government 300,000 vials of a neutralizing antibody that could treat Covid-19 in a $375 million deal. The deal is contingent on the antibody's receiving an authorization from the Food and Drug Administration, according to the company.

The arrangement also gives the government the option to buy an additional 650,000 vials of the antibody, called bamlanivimab, through the end of June 2021. Eli Lilly applied in early October for an emergency-use authorization for the antibody's use in high-risk patients with mild to moderate Covid-19.

Under the deal, the U.S. has committed that patients won't be charged for the medication, although health-care facilities could charge a fee to administer it.

Eli Lilly said it is working on distribution plans for the antibody. "The intravenous administration of therapeutics to patients with confirmed mild to moderate Covid-19 presents unique challenges to the healthcare system," the company said.

The company plans to manufacture up to 1 million doses of bamlanivimab by the end of the year and would have 100,000 doses ready to ship within days of authorization, it said.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

October 28, 2020 07:14 ET (11:14 GMT)

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