Eli Lilly Books $2.7B in Army Contracts for Coronavirus Antibody Treatment Production

Eli Lilly and Co. (NYSE: LLY) has received a pair of firm-fixed-price contracts worth $2.73 billion combined from the U.S. Army Contracting Command to produce monoclonal antibody drugs for COVID-19.

The first contract, valued at $2.52 billion over nine months, covers the supply of coronavirus treatment that combines two neutralizing antibodies, LY-CoV555 and LY-CoV016 through Nov. 24, the Department of Defense said Friday.

Lilly will deliver 100,000 doses of its combo therapy to the U.S. government through March 31 under a separate $210 million contract.

The Food and Drug Administration authorized the company’s cocktail composed of bamlanivimab and etesevimab for emergency use to treat mild or moderate COVID-19 in adults, Lilly said.

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