Regeneron Pharmaceuticals Awarded $2.625 Billion Contract for COVID-19 Therapeutic

Strategic Insights -

Regeneron Pharmaceuticals Inc. has been awarded a significant contract by the US Department of Defense to provide 1.25 million courses of a monoclonal antibody therapeutic for COVID-19. This treatment, a combination of casirivimab and imdevimab, has shown promise in combating the virus. The contract, valued at $2.625 billion, was awarded on January 12, 2021, and is set to be completed by January 11, 2022.

Key Takeaways:

  • Regeneron Pharmaceuticals Inc. has been awarded a $2.625 billion contract by the US Department of Defense for 1.25 million courses of a monoclonal antibody therapeutic for COVID-19.
  • The treatment, a combination of casirivimab and imdevimab, is to be delivered to the US Department of Defense.
  • The contract was awarded on January 12, 2021, with an estimated completion date of January 11, 2022.
  • The contract was solicited via the internet, with one bid received.
  • The US Army Contracting Command, Newark, New Jersey, is the contracting activity (W15QKN-21-C-0014).
  • The fiscal 2022 research, development, test and evaluation (Army) funds in the amount of $2.625 billion were obligated at the time of the award.

Statistics:

  • $2.625 billion: The value of the contract awarded to Regeneron Pharmaceuticals Inc.
  • 1.25 million: The number of courses of the monoclonal antibody therapeutic to be provided.
  • 2.625 billion: The amount of fiscal 2022 research, development, test and evaluation (Army) funds obligated at the time of the award.
  • 2022: The estimated fiscal year for the completion of the contract.
  • $2.625: The billion-dollar contract value (rounded to nearest hundred million).

Sources:

  • U.S. Department of Defense