US FDA gives emergency use approval to GSK-Vir COVID-19 antibody drug

Reuters came out with the news, amid Thursday’s Asian session, suggesting the US Food and Drug Administration’s (FDA) emergency use authorization (EUA) to the COVID-19 antibody treatment developed by Vir Biotechnology Inc. and GlaxoSmithKline.

“The EUA was for the treatment of mild-to-moderate COVID-19 in people aged 12 years and older, the US health regulator said,” per the news.

“Sotrovimab, the antibody treatment, is not authorized for patients who are hospitalized due to COVID-19 or require oxygen therapy,” added Reuters.

It was also mentioned that the European Union's drug regulator last week backed the use of the drug for patients who are at risk of severe disease and do not need supplemental oxygen.

Fx reaction

Following the news, S&P 500 Futures begin the day with mild gains, tracking Wall Street’s modest performance, as vaccine optimism has had most impacts in past and the traders are more interested in Fed and inflation chatters of late.

Read: Wall Street Close: Mildly positive as US Treasury yields probe bull’s return