02:56
Traffic jam:   0
$
92.2628
99.7057

Vir Biotechnology is ready to present a new drug for COVID-19

12 March 2021
3340
2 min.
8
Vir Biotechnology is ready to present a new drug for COVID-19

New drug from COVID-19

Vir Biotechnology (NASDAQ:VIR) shares jumped more than 30% in trading in New York.

Shares rose after the company said its experimental treatment COVID-19, being developed with GlaxoSmithKline PLC ADR (NYSE:GSK)'s pharmaceutical drug, had significantly reduced hospitalizations and deaths among high-risk adults.

The night before, the companies reported that the monoclonal antibody drug, VIR-7831, reduced mortality or hospitalisation by 85% compared with placebo in clinical trials, MarketWatch writes.

The developers now intend to apply for emergency approval to the US Food and Drug Administration (FDA), as well as to regulatory authorities in other countries.

GlaxoSmithKline shares are down 0.06% so far on the premarket.

An independent monitoring committee has recommended a premature halt to trials of the drug, intended for the early treatment of COVID-19 in adults at high risk of hospitalisation, because interim analysis has shown it to be highly effective. The recommendation was based on data from 583 patients.

The companies also said that a separate in vitro study showed that the drug remains effective against new variants of the coronavirus identified in the UK, South Africa and Brazil.

If the FDA approves the application, the treatment will be added to existing antibody-based drugs after emergency approval was granted in November for drugs developed by Eli Lilly (NYSE:LLY) and Regeneron (NASDAQ:REGN).

Monoclonal antibodies could play a key role in protecting people less susceptible to vaccines or those who are contraindicated in vaccinating against SARS-CoV-2, such as cancer patients with suppressed immune systems, Bloomberg notes.

Also, one expert thinks the potential for sales of a third antibody drug could be limited this year.

A separate study of the efficacy of VIR-7831 in hospitalized patients was stopped last week after the National Institutes of Health said the treatment may not benefit patients.

Section:

Discussion

Rating companies
Tesla
14 Mention
Instagram
13 Mention
JP Morgan Chase
12 Mention
Walt Disney Company
12 Mention
Ford Motor Company
10 Mention
Netflix
10 Mention
Amazon
9 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8112757918
Died this year
14339248
Born this year
35277088