The European Commission (EC) has granted marketing authorization to GlaxoSmithKline plc (NYSE:GSK) and Vir Biotechnology Inc's (NASDAQ:VIR) Xevudy (sotrovimab) for the early treatment of COVID-19.
- Sotrovimab is now approved in the European Union (EU) for adults and adolescents (aged 12 years & above and weighing at least 40kg) with COVID-19 who do not require supplemental oxygen and are at increased risk of progressing to severe COVID-19.
- Recently, the companies announced new preclinical data demonstrating the impact of the significant antigenic shift of the new COVID-19 omicron variant (B.1.1.529).
- In July 2021, GSK and Vir announced a Joint Procurement Agreement (JPA) with the EC to supply up to 220,000 doses of sotrovimab.
- Following the grant of the marketing authorization in the EU, Member States participating in the JPA can now order sotrovimab.
- Price Action: VIR stock is up 2.35% at $55.30, GSK shares are down 0.11% at $43.77 during the premarket session on the last check Friday.
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