Regeneron Awarded $326M Government Contract For COVID-19 Antibody Therapy Development
Portfolio Pulse from Adam Eckert
Regeneron Pharmaceuticals Inc has been awarded a government contract valued at up to $326 million by the Biomedical Advanced Research and Development Authority (BARDA) for the development of new vaccines and therapeutics against COVID-19. The U.S. Department of Health and Human Services (HHS) will fund up to 70% of Regeneron's costs. This falls under Regeneron and BARDA's ongoing agreement from 2017 to develop a portfolio of antibodies targeting up to 10 pathogens that pose a significant public health risk.
August 22, 2023 | 8:43 pm
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POSITIVE IMPACT
Regeneron has been awarded a significant government contract for COVID-19 antibody therapy development. This could potentially boost the company's revenues and reputation in the healthcare sector.
The news of a significant government contract is generally positive for a company. It not only provides a direct source of revenue but also enhances the company's reputation in the sector. Given the ongoing impact of COVID-19, the development of new vaccines and therapeutics is of high relevance and importance. Therefore, this news is likely to have a positive impact on Regeneron's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100