Benzinga | Sep 15, 2021 08:01AM EDT

After Regeneron, US Government Orders Additional COVID-19 Therapy From Eli Lilly

* The U.S. government has announced to purchase additional doses of Eli Lilly And Co's (NYSE:LLY) for its neutralizing antibody therapies for COVID-19.

* Related Link: Distribution Resumes Of Eli Lilly COVID-19 Antibody Therapies.

* As part of the agreement, Lilly will supply 388,000 doses of etesevimab to complement doses of bamlanivimab previously purchased by the U.S. government.

* Approximately 200,000 doses will be shipped in Q3 2021, and the remaining to be shipped in Q4. This transaction is expected to generate approximately $330 million in revenue in the second half of 2021.

* Bamlanivimab and etesevimab together are authorized under Emergency Use Authorization.

* Read Next: Eli Lilly Under FDA Scrutiny At Its COVID-19 Drug Manufacturing Facilities Amid Staff Accusations.

* The U.S. government also announced the purchase of additional doses of Regeneron Pharmaceuticals Inc's (NASDAQ: REGN) COVID-19 antibody cocktail.

* Price Action: LLY shares are up 0.03% at $233.17 during the premarket session on the last check Wednesday.