HHS releases new detail of Covid partnership with Regeneron

The U.S. Department of Health and Human Services (HHS) announced new details of its partnership with Tarrytown-headquartered Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) for the development of monoclonal antibodies to combat Covid-19 and its variants.

HHS shared a previously unpublicized clause in the contract relating to the potential commercialization of a therapy being created under this partnership. In the event a developed therapy is commercialized Regeneron agrees to a U.S. list price equal to or less than its retail price in comparable markets globally.

“Regeneron is permitted to take into account all relevant factors in determining whether sales are comparable sales, including volume commitments, timing of purchase and supply, the terms and conditions of purchase and supply, market conditions and epidemiology of SARS-CoV-2,” said the clause in Regeneron”™s contract with HHS”™ Administration for Strategic Preparedness and Response Biomedical Advanced Research and Development Authority. Regeneron”™s contract with HHS is valued at $326 million.