Washington, October 3: Stocks of Regeneron Pharmaceuticals Inc. REGN, surged more than 2 percent during the extended session on Friday. The new development comes after a White House doctor said that US President Donald Trump, was given the drug to combat the coronavirus illness. Navy Commander Dr Sean Conley, the chief physician of the President, said the commander-in-chief has received a dose of the experimental drug-Regeneron, which has not yet been approved by the Food and Drug Administration as a treatment for COVID-19. "He completed the infusion without incident," the doctor said.
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Trump was admitted to the nation's premier military hospital in Washington from where he will be working for the few days. The hospitalisation comes just a month before the presidential election in the US that are slated to be held on November 3, 202 . In a video recorded of him standing up and speaking informally at the White House, Trump said: "I'm going to Walter Reed Hospital. I think I'm doing very well, but we're going to make sure that things work out the first lady is doing very well." What is Regeneron’s Antibody Cocktail? Donald Trump Administered With This Drug After COVID-19 Diagnosis.
Regeneron Pharmaceuticals, Inc. is an American biotechnology company headquartered in Tarrytown, New York, according to the company's website. The company was founded in 1988. In a statement released Friday, the White House said Trump had received “a single 8-gram dose” of the biotech treatment, which belongs to a promising new class of antiviral drugs. 74-year old Trump and first lady Melania tested positive for the coronavirus, the president tweeted early on Friday. Reports inform that Trump also has been taking famotidine, an antacid, as well as zinc, vitamin D, melatonin and a daily aspirin, Conley further added.
On Thursday, Regeneron said Thursday its trial drug, named REGN-COV2, reduced the coronavirus load. Also, the time needed to ease symptoms in non-hospitalized patients with COVID-19 and showed ‘positive trends’ in reducing medical visits. REGN-COV2 is undergoing a trial that measures the effects of adding it to the usual COVID-19 standard of care.
So far, there are no approved treatments for coronavirus. However, Regeneron treatment is one of the most promising candidates, along with another antibody treatment developed by Eli Lilly which are being tested in patients across the US. According to reports, initial results have suggested that they can reduce the level of the virus in the body and possibly shorten hospital stays — when they are given early in the course of infection.