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Jim Cramer Says Regeneron Stock Is a 'Buy Here'

Jim Cramer likes the Regeneron and Roche news. Here's why.

There are over 22.1 million cases of the coronavirus worldwide, with over 781,756 deaths.

According to Johns Hopkins, the U.S. has surpassed 5.4 million cases with over 171,833 deaths.

Per the COVID-19 Tracking Project, there were 40,458 new cases reported Tuesday. 642,814 new tests were reported. And 1,195 deaths were reported yesterday.

Regeneron and Roche have teamed up to make and distribute REGN-COV2, Regeneron's experimental Covid-19 treatment.

If it’s approved, the treatment would be distributed by Regeneron in the U.S. and elsewhere in the world by Roche, the Swiss drug giant that owns U.S.-based Genentech.

Supplies could more than triple under the agreement, the companies said in a statement Wednesday.

The treatment is currently being studied in two Phase 2/3 clinical trials for the treatment of Covid-19 and in a Phase 3 trial for the prevention of the disease in people living in a house with infected individuals.

Regeneron Pharmaceuticals last month was awarded a $450 million contract from the U.S. government to produce its developing coronavirus treatment. The company is one of many working to develop a treatment for Covid-19, the disease caused by the coronavirus.

More on Drug Stocks Wednesday: Jim Cramer Says Johnson & Johnson Is 'Boosting Its Drug Pipeline'

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