Indianapolis-based Eli Lilly and Co. (NYSE: LLY) says the U.S. government has purchased 650,000 additional doses of the company’s COVID-19 antibody therapy bamlanivimab. Lilly says the government is paying more than $812 million for the doses, which will be delivered through January 31.
At least 350,000 of the additional doses will be delivered this month, according to Lilly. The new agreement brings the total number of doses purchased by the government to 950,000.
Last month, the U.S. Food and Drug Administration granted an Emergency Use Authorization for bamlanivimab to treat mild-to-moderate COVID-19 patients at high risk for progressing to severe COVID-19 and/or hospitalization.
“Given the significant increase in COVID-19 cases and hospitalizations in the U.S., we are doing everything possible to quickly provide more bamlanivimab doses to Americans,” Dave Ricks, chief executive officer of Lilly, said in a news release. “We are proud of our work to deploy significant manufacturing capacity and remain committed to enabling widespread and equitable access to bamlanivimab. The U.S. government’s effort to allocate bamlanivimab around the country is critical to ensuring it reaches patients who need it the most.”
The government previously stated that Americans who receive the treatment will have no out-of-pocket costs, though healthcare facilities may charge a fee for its administration. Lilly says the government is responsible for the allocation of the treatment and weekly allocation decisions will be “proportionally based on confirmed COVID-19 cases in each state and territory over the previous seven days.”
Lilly says the doses of bamlanivimab are being manufactured at numerous sites throughout the world and the supply is expected to “increase substantially” in 2021.