Drug maker Eli Lilly And Co. (LLY) announced Tuesday an agreement to supply 614,000 doses of bamlanivimab with etesevimab to the U.S. government no later than January 31, 2022 for a total of $1.29 billion.
Under the additional purchase deal by the U.S. Government, a minimum of 400,000 doses will be supplied no later than December 31, 2021.
The neutralizing antibody therapy of Bamlanivimab and etesevimab together is authorized for emergency use for the treatment of mild to moderate COVID-19 or for post-exposure prophylaxis of COVID-19 in certain individuals.
Lilly estimates the impact of the new purchase to the 2021 guidance is $840 million of additional revenue and approximately 25 cents of additional earnings per share. The expected impact in 2022 will be reflected in the company's financial guidance to be provided in December 2021.
The latest purchase has been supported in whole or in part with federal funds.
The company noted that Bamlanivimab and etesevimab together are authorized under Emergency Use Authorization, and has not been approved by the FDA for any use. It is not known if bamlanivimab and etesevimab together are safe and effective for the treatment or post-exposure prophylaxis of COVID-19.
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