Eli Lilly and Company announced an agreement with the U.S. government to supply up to 600,000 doses of investigational drug bebtelovimab for at least $720 million. The U.S. government will accept the doses of bebtelovimab if it is granted an Emergency Use Authorization (EUA) by the U.S. Food and Drug Administration (FDA). Lilly has submitted a request for an EUA for bebtelovimab for the treatment of mild to moderate COVID-19 in certain high-risk patients to the FDA.
Pseudovirus and authentic virus testing demonstrate that bebtelovimab retains full neutralizing activity against Omicron – currently the predominant variant in the U.S. In addition, pseudovirus testing with bebtelovimab demonstrates that it retains neutralization against all other known variants of interest and concern, including BA.2.
The supply agreement calls for the delivery of up to 600,000 doses no later than March 31, 2022 with an option of 500,000 additional doses no later than July 31, 2022.
The 2022 estimated financial impact of this agreement is at least $720 million of revenue and approximately $0.20 of EPS.
This purchase has been supported in whole or in part with federal funds from the Department of Health and Human Services; Office of the Assistant Secretary for Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA), under contract number W58P0522C0012.