Eli Lilly to supply U.S. 300,000 vials of potential COVID-19 drug

Eli Lilly and Co said on Wednesday it signed an agreement with the U.S. government to supply 300,000 vials of its experimental antibody drug to treat COVID-19 for $375 million. The agreement is for delivery over the two months following an emergency use authorization if granted by U.S. regulators.

Eli Lilly and Co said on Wednesday it signed an agreement with the U.S. government to supply 300,000 vials of its experimental antibody drug to treat COVID-19 for $375 million.

The agreement is for delivery over the two months following an emergency use authorization if granted by U.S. regulators. The U.S. government also has the provision to purchase up to an additional 650,000 vials through June 30, 2021, the company said. The company submitted a request to the U.S. Food and Drug Administration in October for emergency use authorization of the drug for treating mild to moderate COVID-19 patients.

The U.S. government has committed that patients will have no out-of-pocket costs for the medicine, although healthcare facilities may charge a fee for the product's administration, Lilly said.