Coronavirus Update: Eli Lilly Starts Late-Stage Trial for Antibody Drug in Nursing Homes

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Good morning, it’s Monday, August 3. Here’s your daily coronavirus update.

There are over 18 million cases of the virus worldwide, with over 689,000 deaths.

The U.S. has 4.6 million cases with over 154,000 deaths.

According to the COVID-19 Tracking Project, there were 48,600 new cases reported Sunday. 725,000 new tests were done. And 515 deaths were reported yesterday.

Across the world, there are now outbreaks being recorded in Britain, Australia, Japan and many other nations around the Asia region.

Heading into the weekend, lawmakers on Capitol Hill continued to hold talks on a new stimulus package into Saturday, and while both sides hailed "good progress” from the meetings, Republicans and Democrats are at least $1 trillion apart on their proposed bills.

Democratic House Speaker Nancy Pelosi rejected a proposal from Republicans that would have extended the $600 benefit for another week, noting that the two sides are not on a path towards a broader, more longer-term deal.

On CBS' "Face the Nation," White House Chief of Staff Mark Meadows said, "I'm not optimistic that there will be a solution in the very near term...We continue to see really a stonewalling of any piecemeal type of legislation that happens on Capitol Hill...Hopefully, that will change in the coming days."

And let’s take a look at earnings.

Clorox posted earnings that came in stronger-than-expected due in part to a surge in cleaning product sales triggered by the global coronavirus pandemic.

According to Clorox, sales from its Heath and Wellness division, which includes cleaning and professional products as well as vitamins and supplements, rose 33% to $805 million, around double the gains seen in the group's household and lifestyle units.

CEO Benno Dorer noted that, "I'm pleased that we've delivered a quarter of exceptional results, fueled by strong demand for our products that we've been privileged to provide in support of public health and to serve some of the essential needs of consumers as they've had to stay at home more.”

Clorox also said Dorer will step down in September after six years at the helm, Linda Rendle, a longtime Clorox executive who has been with the group for more than two decades, will take the reins as CEO.

And, finally, Eli Lilly said that it’s beginning its late-stage trial to study whether or not its experimental COVID-19 antibody treatments is effective in preventing the spread of the virus in residents and staff in U.S. nursing homes.

The phase 3 trial will test the treatment, which was developed in partnership with Canadian biotech AbCellera and is expected to enroll up to 2,400 participants who live or work in facilities that have had a recently diagnosed case of the coronavirus.

The drug is currently being tested in hospitals.

Lilly’s chief scientific officer, Daniel Skovronskyn said, “Covid-19 has had a devastating impact on nursing home residents...We’re working as fast as we can to create medicines that might stop the spread of the virus to these vulnerable individuals.”

You can follow Katherine Ross on Twitter at @byKatherineRoss.

Read more from Katherine Ross here.

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