Regeneron signs $450 million contract with the U.S. government for its coronavirus therapy

A technician at Regeneron Pharmaceuticals headquarters in Tarrytown, New York.

Mike Segar | Reuters

Regeneron Pharmaceuticals said on Tuesday the U.S. government has granted the drugmaker a $450 million contract to make and supply its double-antibody cocktail that is being tested against Covid-19.

Shares of Regeneron were up nearly 3{6b17707e448e34f54d6d1a9e433426abf2addbba8938cba1c35a09fc0ada7803} in premarket trading.

The antiviral cocktail, REGN-COV2, is in separate clinical trials both for treating and preventing Covid-19, the company said.

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