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Dec. 3, 2021, 3:00 p.m. EST

Lilly's COVID-19 antibody treatment authorized for young children and infants

Shares of Eli Lilly & Co. (NYS:LLY) were down 1.6% in trading on Friday after the company said the Food and Drug Administration has extended the emergency authorization for its COVID-19 antibody therapy to include children younger than 12 years old. This is the first authorization for a monoclonal antibody treatment for infants and children. Lilly said the therapy can now be used in high-risk children as a treatment or for post-exposure prophylaxis. The company also said that more than 700,000 patients have been treated with bamlanivimab or a combination of bamlanivimab and etesevimab. Lilly's stock is up 44.5% so far this year, while the broader S&P 500 (S&P:SPX) has gained 21.6%.

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