Trump pushes Regeneron, Eli Lilly COVID-19 treatments for emergency authorizations
Regeneron, Eli Lilly get bullish stock boost from Trump
President Trump urged regulators Wednesday evening in a video message on Twitter to approve an emergency use authorization for Regeneron and Eli Lilly's antibody treatments.
Trump specifically touted Regeneron's antibody cocktail as being a key aspect of his treatment, likening it to a "cure" rather than a therapeutic treatment.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| REGN | REGENERON PHARMACEUTICALS INC. | 890.68 | -15.86 | -1.75% |
| LLY | ELI LILLY & CO. | 724.87 | -6.75 | -0.92% |
"We have hundreds of thousands of doses that are just about ready," Trump said. "I have emergency use authorization all set and we got to get it signed now. And you’re going to get better, you’re going to get better really fast.”
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The announcement comes after the president was discharged from Walter Reed National Military Medical Centerafter on Monday after being treated for coronavirus.
AP Photo/Alex Brandon
According to a statement from White House press secretary Kayleigh McEnany on Friday, Trump received an 8-gram dose of the polyclonal antibody cocktail, REGN-COV2 through "compassionate use," which makes experimental pharmaceuticals available to people outside of clinical trials.
McEnany’s statement also mentioned that the president has been taking “zinc, vitamin D, famotidine, melatonin and a daily aspirin.”
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Regeneron CEO Dr. Leonard Schleifer told Fox News earlier this week that the company was working to get an expanded emergency use authorization for the experimental treatment.
"I don’t know how long that will take," he added. "We are working with the FDA, we think we meet the criteria.”
Meanwhile, Eli Lilly announced Wednesday that it had submitted its request for an emergency use authorization for its LY-CoV555 monotherapy. The company said it anticipates it could supply as many as 100,000 doses by the end of October, and up to 1 million by next year.
"We expect to submit a subsequent request for EUA for combination therapy in November, pending clinical trial enrollment, once additional safety data accumulate and sufficient supply is manufactured," the company added. "Lilly anticipates having data to support a biologics license application submission for combination therapy as early as [the second quarter of] 2021. Conversations with global regulators are ongoing."
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Trump added that the administration intends to make Regeneron and Eli Lilly's treatments free for patients, suffering from the virus, especially seniors.
"If you're in the hospital and you're feeling really bad, I think we're going to work it so that you get them and you get them free," Trump said. "Especially if you're a senior, we're going to get you in there quick."
He also noted that the military will handle the logistics for the distribution of the treatments, claiming they could potentially deliver "hundreds of thousands of doses" within days.
"We’re waiting for the emergency use authorization, and the drug companies have just made a lot of it," Trump added. "So hopefully this is not going to be not just a therapeutic, its going to be much more than a therapeutic. You’re going to get better, you’re going to get better fast. Just like I did.”
Regeneron shares are currently up nearly 4% in after-hours trading Wednesday while Eli Lilly is up nearly 2% in after-hours trading.
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