October 28, 2020 -- Eli Lilly has entered an initial agreement with the U.S. government to supply 300,000 vials of LY-CoV555 (bamlanivimab), the company's investigational neutralizing antibody to fight SARS-CoV-2 infection, for $375 million.
The U.S. government will accept the doses if the drug is granted an emergency use authorization (EUA) by the U.S. Food and Drug Administration (FDA). The company submitted a request for an EUA for bamlanivimab for the treatment of mild to moderate COVID-19 in high-risk patients to the FDA in early October.
If the EUA is granted, the government has committed that patients will have no out-of-pocket costs for the medicine. Lilly is partnering with Operation Warp Speed and a national distributor to finalize distribution plans and shipping arrangements.
The initial agreement is for delivery over two months following an EUA and provides the U.S. government with the option to purchase up to an additional 650,000 vials through June 30, 2021.
The company anticipates manufacturing up to 1 million doses of bamlanivimab by the end of 2020 for use around the world. Supply of the therapy is expected to increase substantially beginning in early 2021.