The U.S. government will pay Eli Lilly $375 million to supply 300,00 doses of its experimental antibody drug to treat the coronavirus, the company announced Wednesday.
The agreement is for delivery over the two months following an emergency use authorization from the Food and Drug Administration. The deal also provides the option for the U.S. government to purchase 650,000 more doses through June 30, the company said.
Its drug is similar to one that President Donald Trump received on Friday from Regeneron Pharmaceuticals Inc.
While antibody drugs are promising, experts say it’s far from a cure as trials are still needed to determine how well it works.