Summary
Regeneron Pharmaceuticals, Inc. has entered into a significant supply agreement with the U.S. Government, specifically the Army Contracting Command, New Jersey, for its investigational dual antibody therapy, casirivimab and imdevimab. This agreement, effective January 12, 2021, is for the manufacture and supply of up to 1.25 million doses for the treatment of mild to moderate COVID-19 in high-risk, non-hospitalized patients, an indication currently under Emergency Use Authorization (EUA) by the FDA. The U.S. Government is committed to purchasing all filled and finished doses delivered by June 30, 2021, at a price of $2,100 per dose, potentially totaling up to $2.625 billion. The purchase price is tied to the lowest authorized dose at the time of delivery. While the agreement extends through January 12, 2022, the primary delivery obligation for these doses is within the first half of 2021. This agreement represents a substantial financial commitment and underscores the government's commitment to securing Regeneron's COVID-19 therapy.
Key Highlights
- 1Regeneron signed a material definitive agreement with the U.S. Government for its COVID-19 antibody therapy (casirivimab and imdevimab).
- 2The agreement mandates the manufacture and supply of up to 1.25 million filled and finished doses by June 30, 2021.
- 3The U.S. Government will purchase these doses at $2,100 per dose, totaling a potential of $2.625 billion.
- 4The therapy is authorized under an Emergency Use Authorization (EUA) for mild to moderate COVID-19 in high-risk, non-hospitalized patients.
- 5The purchase price is contingent on the lowest FDA-authorized dose at the time of delivery.
- 6The U.S. Government has the right to terminate the agreement for convenience, with provisions for termination costs for Regeneron.
- 7The performance period extends to January 12, 2022, with key delivery obligations in the first half of 2021.