Pharma Stock Roundup: ABBV, LLY Coronavirus Product Development Efforts, FDA Updates
Zacks Investment Research | Mar 12, 2020 11:36PM ET
This week Lilly (NYSE:LLY) signed a deal to co-develop antibody therapies with private biotech, AbCellera to treat and prevent coronavirus disease, COVID-19. AbbVie (NYSE:ABBV) informed that it is collaborating with European & U.S. health authorities to back studies on its HIV medicine Kaletra for treating COVID-19. Bristol-Myers (NYSE:BMY) immunotherapy combo, Opdivo + Yervoy was approved by the FDA for previously treated hepatocellular carcinoma, the most common form of liver cancer.
Recap of the Week’s Most Important Stories:
AbbVie, Roche & Lilly’s Coronavirus Updates: Lilly announced a collaboration deal with private biotech, AbCellera to co-develop antibody therapies to treat and prevent COVID-19. To develop these therapies, the companies will select from more than 500 unique antibodies identified by AbCellera and isolated from the blood sample of a U.S. COVID-19 patient who recovered from the disease. The companies will equally share initial development costs for the antibody products after which Lilly will take care of further development, manufacturing and distribution.
AbbVie is working with global health authorities to determine the efficacy of its HIV medicine, Zacks Investment Research
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