Lilly To Supply Addl. 150K Doses Of Bebtelovimab To U.S. Government For About $275 Mln

(RTTNews) - Eli Lilly and Co. (LLY) announced Wednesday a modified purchase agreement with the U.S. government to supply an additional 150,000 doses of bebtelovimab for approximately $275 million. The existing U.S. government supply of bebtelovimab, including the new purchase, is expected to meet present demand through late August 2022.

Bebtelovimab continues to maintain neutralization activity against the most common, and fastest growing, Omicron variants (BA.2.12.1 and BA.4/BA.5) in the U.S., in addition to all known variants of interest and concern.

The delivery of doses will begin immediately and complete no later than August 5, 2022. The 2022 estimated financial impact of this agreement is approximately $275 million of revenue and approximately $0.08 of earnings per share.

An option for an additional 350,000 doses to be exercised no later than September 14, 2022 will remain in the agreement.

This purchase has been supported in whole or in part with federal funds from the Department of Health and Human Services; Office of the Assistant Secretary for Preparedness and Response; Biomedical Advanced Research and Development Authority (BARDA), under contract number W58P0522C0012.