Benzinga | Sep 15, 2021 07:54AM EDT

U.S. Govt Calls For Additional Doses Of Regeneron's COVID-19 Antibody Therapy

* The U.S. government will buy 1.4 million additional doses of Regeneron Pharmaceuticals Inc's (NASDAQ:REGN) COVID-19 antibody cocktail.

* Read Next: FDA Expands EUA for Lower Dose Subcutaneous Version of Regeneron's COVID-19 Antibody Cocktail.

* The cocktail, REGEN-COV, a combination of antibodies casirivimab and imdevimab, was authorized in November for emergency use by the FDA.

* The new agreement brings the total doses purchased by the U.S. government to nearly 3 million.

* The Company said it would supply the additional doses by January 31, 2022, at $2,100 per dose. That values the latest contract at $2.94 billion.

* Related Link: UK Approves Regeneron - Roche's COVID-19 Antibody Cocktail.

* The demand for additional doses comes a couple of weeks after Eli Lilly And Co's (NYSE:LLY) COVID-19 antibody therapy resumed distribution in the U.S.

* Related: Distribution Resumes Of Eli Lilly COVID-19 Antibody Therapies.

* Price Action: REGN stock closed 0.88% higher at $645.15 on Tuesday.