Vir Biotechnology (NASDAQ: VIR) isn't first to cross the finish line with its antibody treatment for COVID-19. In fact, with its recent Emergency Use Authorization (EUA), it joins two much bigger players. The U.S. Food and Drug Administration earlier granted EUAs to Eli Lilly and Regeneron Pharmaceuticals for their antibody therapies.
But concerns about antibody treatments have grown along with the emergence of variants. Regeneron said earlier in the year that its treatment is effective against current variants. As for Lilly, the U.S. recently said that company's treatment wasn't working on the Brazilian and South African variants -- the government halted distribution of the therapy in certain states. And this leads me to the statement from Vir CEO George Scangos that may offer the biotech company's antibody a boost.
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15 Words From Vir Biotechnology's CEO May Mean Market Dominance