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Trump Touts Regeneron Antibody Cocktail As 'Cure,' Says 'I Felt Good Immediately'

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Trump Touts Regeneron Antibody Cocktail As 'Cure,' Says 'I Felt Good Immediately'

President Donald Trump touted Regeneron Pharmaceuticals Inc’s (NASDAQ: 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.”

The president also brought up rival drugmaker Eli Lilly And Co’s (NYSE: 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 (NASDAQ: 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 (NYSE: JNJ), Moderna Inc (NASDAQ: MRNA), and Pfizer Inc (NYSE: 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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