President Donald Trump touted Regeneron Pharmaceuticals Inc’s REGN antibody cocktail as a "cure" for COVID-19 in a video shared after his return to the Oval Office on Wednesday.
What Happened: “I wasn't feeling so hot, and within a very short period of time they gave me Regeneron,” said Trump.
The president claimed the effects of the drug mix were "unbelievable," and he believed it was key to his recovery from the deadly virus.
"I felt good immediately, I felt as good three days ago as I do now.”
A MESSAGE FROM THE PRESIDENT! pic.twitter.com/uhLIcknAjT— Donald J. Trump (@realDonaldTrump) October 7, 2020
The president also brought up rival drugmaker Eli Lilly And Co’s LLY monoclonal antibody therapy, saying his administration was looking to roll them out with an emergency approval. "I've authorized it.”
Trump touted these drugs as a cure and revealed that the United States has “hundreds of thousands of doses that are just about ready.”
The President said that it was his suggestion that he be administered the Regeneron antibody cocktail.
Why It Matters: Trump announced that he was working to provide the antibody drugs for free. “If you're in a hospital and you're feeling really bad, we're going to work it so you can get them and can get them free.”
On Wednesday, Microsoft Corporation MSFT co-founder Bill Gates said regulatory approval for antibody drugs could sharply reduce deaths from COVID-19.
Regeneron CEO Leonard Schleifer said Monday that Trump was not the first person to take the drug and it is available to others on a compassionate use basis.
The president also touched on the subject of vaccines and mentioned Johnson & Johnson JNJ, Moderna Inc MRNA, and Pfizer Inc PFE and said “We’re gonna have a great vaccine very very shortly.”
Trump admitted that vaccines may only be available after the November election.
Price Action: Regeneron shares traded nearly 3.5% higher at $612.63 in the after-hour session on Wednesday and closed almost 1.7% higher.
Photo courtesy: The White House via Flickr
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