Eli Lilly shares rise as it seeks FDA  emergency clearance for antibody drug: Covid-19

Eli Lilly’s antibody therapy drug ask the FDA US drug regulators  for emergency clearance after the data showed the use of the drug reduce hospitalizations.

Eli Lilly and Co (LLY) Analyst Price Target on LLY
▲ (13.39% Upside)
Based on 5 analysts offering 12 month price targets for Eli Lilly & Co in the last 3 months. The average price target is $167.80 with a high forecast of $185.00 and a low forecast of $144.00. The average price target represents a 13.39% increase from the last price of $147.99. Source TipRanks

Eli Lilly partnered with biotech company AbCellera Biologics Inc. The drug is used for patients with mild to moderate diagnosis is of COVID-19.

“Lilly is creating and testing neutralizing antibodies that target the viral spike protein that SARS-CoV-2 uses to gain entry into host cells. These treatments are specifically designed to treat COVID-19 and require specialized people – such as scientists and engineers – and nearly 300,000 square feet of manufacturing space, 40 miles of piping, 50 processing vessels, and several controlled environments such as cleanrooms to manufacture.

It can take up to 90 days to manufacture a single batch of the active pharmaceutical ingredient and drug product for a neutralizing antibody for COVID-19. This is due to the highly complex manufacturing processes, with carefully controlled conditions and numerous quality and safety checks.” Source: Eli Lilly

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