U.S. strikes deal with Lilly for potential COVID-19 antibody drug
(Reuters) - The U.S. government will pay as much as $1.19 billion to Eli Lilly and Co to secure nearly 1 million doses of its experimental COVID-19 antibody treatment, a drug similar to a treatment that U.S.
(Reuters) - The U.S. government will pay as much as $1.19 billion to Eli Lilly and Co to secure nearly 1 million doses of its experimental COVID-19 antibody treatment, a drug similar to a treatment that U.S. President Donald Trump received.
Lilly will start delivering 300,000 doses of the treatment, for which it is being paid $375 million, within two months of receiving an emergency use authorization from the U.S. health regulator, the company said.
After that, the government has an option to buy an additional 650,000 vials for $812.5 million, the U.S. Department of Health and Human Services said in a statement.
The price per dose amounts to $1,250 as per the contract, but the vials purchased by the government will be free to the American public.
The U.S. has also signed deals with AstraZeneca and Regeneron Pharmaceuticals for their antibody therapies, under Trump administration's Operation Warp Speed program.
The deal with Regeneron covers the cost of manufacturing, while the deal with AstraZeneca also includes support for development.
While vaccines are seen critical to ending the pandemic, governments are increasingly looking at other effective treatments to slow the spread of the virus and kick-start economic activity.
The company submitted a request to the U.S. Food and Drug Administration earlier this month for emergency use authorization of the drug to treat mild to moderate COVID-19 patients. The drug had a recent setback after it failed to show benefits in hospitalized patients.
In addition, Reuters reported that U.S. drug inspectors uncovered serious quality control problems at an Eli Lilly plant that is ramping up to make its antibody therapy.
The antibody therapy is similar to a drug from Regeneron that was given to Trump during his bout with COVID-19.
The treatments belong to a class of drugs called monoclonal antibodies that are manufactured copies of antibodies created by the body to fight against an infection.
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.