Trump has ties to drugmaker Regeneran, and his stock is growing


Trump’s team announced Friday that the president had found a drug called REGN-COV2, which is used to relieve symptoms and reduce viral load. Shares of Regeneron jumped 7% in midday trading on Monday, bringing the stock’s year-to-date gain to more than 60%.

“Lane and President Trump have been familiar with both living in the Westchester area for many years, but there was no regular contact until this year when they discussed matters surrounding Covid on this occasion,” Regener said in a statement to CNN Business.

According to Forbes, Scliffer is now valued at $ 2.3 billion, up from 1 1.1 billion in mid-March. Schiffer primarily donated to Democratic political candidates and the PAC in the 2016 and 2018 elections, according to Federal Election Commission records.
Regeneron is one of the many biotech and big pharma companies that is skyrocketing in the hope that it can quickly develop an effective coronavirus treatment. The company launched a human trial for its antibody cocktail in June and a phase 3 trial just a month later.

However, it has not yet been approved by the Food and Drug Administration. The FDA may approve its administration on an individual basis through so-called “compassionate use” requests. Regeneron confirmed to CNN Business that he made such a request to the FDA to allow Trump to operate the drug.

Preliminary data show promising results of Regeneron's antibody cocktail for coronavirus

Schliefer defended Trump’s decision to give him a cocktail last week, telling CNN’s Wolf Blitzer that Trump “is in a high-risk group for a variety of reasons” and that “we hope we can boost his immune system enough. He can win this and achieve a full recovery.” Can. “

“We’ve got a lot of information, but we’re still in the experimental phase. But when you’re in the midst of an epidemic and you’re at risk, we think it’s worth trying.” .

Regeneron added in his statement to CNN Business that he was in discussions with the FDA “about the possibility of emergency use authorization for REGN-COV2” following the release of positive data about the drug last week.

A few days before President Trump’s entry into the Trump Litter Reed, the company announced that its cocktail “reduces the viral load and time to eliminate symptoms in hospitalized patients.”

Regeneron said it is also in the process of studying the effect of cocktails on hospitalized patients, as well as whether it can prevent infection in people exposed to Covid-19.

Julia Chatterley, president of CNN’s Julia Chatterley, president and chief scientific officer of Regeron, said in an interview on Monday that the company hopes to get patients a higher dose of REGN-COV2 in the next few months due to its partnership with Big Pharma giant Roche. .

“We are on track to deliver 1,000,000 doses by the end of the year and … produce 100,000 doses a month while demand may still exceed that,” Yankopouss said. “If the drug is really working and has the effects that we hope it will, it can do a lot of good for a lot of people.”

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