AstraZeneca inks new $205 million deal with US govt for COVID-19 antibody AZD7442
Shares of AstraZeneca (LSE: AZN) were up more than 3% at £72.11 in early trading today, after it revealed it has modified an existing agreement with the US government to supply up to 500,000 additional doses of AZD7442, a long-acting antibody (LAAB) combination which is in late-stage development for the prevention and treatment of COVID-19.
Today’s agreement with the Department of Health and Human Services (HHS) and the Department of Defense (DoD) builds on an agreement last October for the support of the late-stage development of AZD7442 and for the supply of an initial 100,000 doses of the LAAB combination. It included the option to acquire additional doses in 2021. The company also has a separate agreement to supply the DoD with 100,000 doses, bringing potential US supplies of AZD7442 to 700,000 in 2021.
Financial terms
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