* Extended U.S. deal for $205 mln, total value now at $726
mln
* Overall supply deal contingent on approval of treatment,
AZD7442
* Deal comes as AZ grapples with COVID-19 vaccine
suspensions
(Writes through with new details, background)
By Pushkala Aripaka
March 16 (Reuters) - AstraZeneca will supply up to
half a million extra doses of its experimental antibody-based
COVID-19 combination therapy to the United States, in a bright
spot for the company after more governments suspended use of its
vaccine over safety fears.
The antibody therapy, which has yet to be approved by U.S.
regulators, is designed to treat the disease rather than prevent
it like the vaccine, which several countries have stopped using
while reports of blood clots in some people are investigated.
The Anglo-Swedish drugmaker said on Tuesday the $205 million
U.S. extension for 500,000 antibody doses builds on a contract
agreed with government agencies in October for initial supplies
of 200,000 doses of the antibody cocktail, AZD7442.
The treatment is a combination of two monoclonal antibodies,
London-listed AstraZeneca said, adding that the new agreement is
contingent on an emergency use approval by the U.S. Food and
Drug Administration.
"The US Government's support is critical in helping
accelerate the development of AZD7442," AstraZeneca Chief
Executive Pascal Soriot said.
The total value of the deal now stands at $726 million for
up to 700,000 doses. AZD7442 is being evaluated in late-stage
trials, the company said, adding that it currently does not
expect any changes to its 2021 forecasts due to the deal.
While AstraZeneca has undergone a rollercoaster ride with
its COVID-19 vaccine, it has been working on developing new
treatments and repurposing its existing drugs to prevent and
treat coronavirus infections.
Monoclonal antibodies, such as the ones being used in
AZD7442, are synthetically manufactured copies of the human
body's natural infection-fighting proteins, and are already
being used to treat some types of cancers.
A series of issues have bogged down the drugmaker's vaccine
rollout: including pauses in trials, questions over the most
effective dosing, and supply problems. Share gains from optimism
around the cheap and easy-to-ship shot have also been decimated.
On Tuesday, the stock was up 1.5% at 7,090 pence in early
trading. At its peak in July last year, the company hit 10,120
pence.
(Reporting by Pushkala Aripaka in Bengaluru, Editing by Sherry
Jacob-Phillips and Philippa Fletcher)
Astrazeneca (AZN)
