Glaxo-Vir Biotech's Antibody Approved In Europe For Early Treatment Of COVID-19

The European Commission (EC) has granted marketing authorization to GlaxoSmithKline plc GSK and Vir Biotechnology Inc's 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.