US to Pay Eli Lilly $375 Million for 300,000 Vials of Experimental COVID-19 Antibody Drug

US to Pay Eli Lilly $375 Million for 300,000 Vials of Experimental COVID-19 Antibody Drug
The Eli Lilly logo is shown on one of the company's offices in San Diego, Calif., on Sept. 17, 2020. Mike Blake/Reuters
Bill Pan
Bill Pan
Reporter
|Updated:

The U.S. government will pay Eli Lilly $375 million to secure an initial supply of 300,000 vials of bamlanivimab, the pharma company’s experimental COVID-19 drug pending emergency approval by the Food and Drug Administration (FDA).

Eli Lilly on Wednesday announced the deal, adding that it expects to manufacture 1 million doses of bamlanivimab by the end of year, with 100,000 doses ready to ship for use around the world soon after authorization.