Biotech Stock Roundup: REGN Gets EC Nod for Cocktail, BIIB's Drug Approval & More
Zacks Investment Research | Nov 16, 2021 10:29PM ET
It has been a busy week for the biotech sector with drug approvals and other regular pipeline updates. The development of coronavirus treatments and subsequent progress also continue to be in the spotlight.h3 Recap of the Week’s Most Important Stories:/h3
Regeneron (NASDAQ:REGN) Cocktail Gets EC Nod: Regeneron Pharmaceuticals surged after it entered into an advance purchase agreement with the EC. Per the agreement, Valneva would supply up to 60 million doses of VLA2001, its inactivated COVID-19 vaccine candidate, over two years, including approximately 27 million doses in 2022.
Additionally, the EC has the option to increase its initial purchase, in 2022, of VLA2001 up to a total of 60 million doses by the end of 2023. The agreement is under final review, including volumes required, by each of the EU member states. The delivery of the vaccine is currently expected to begin in April 2022.
h3 Performance/h3Medical - Biomedical and Genetics Industry 5YR % Return
Biotech Stock Roundup: REGN, MRNA Post Q3 Earnings, SAVA Gains on AD Review Data ).
Stay tuned for more pipeline, and regulatory updates.
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