Startup Awarded $354M Federal Contract to Make COVID-19 Drugs in US
- 4 years ago
Startup Awarded $354M Federal
Contract to Make COVID-19 Drugs in US On Tuesday, the Department of Health and Human
Services (HHS) announced it had signed a four-year,
$354 million contract with Phlow Corporation. The company, based in Richmond, Virginia, will produce
drug ingredients to make "critical medicines to help
alleviate or prevent drug shortages" amid COVID-19. Facilities across the U.S. are expected
to manufacture the drug ingredients. According to HHS
Secretary Alex Azar, this is a "significant step to rebuild our
domestic ability to protect ourselves from health
threats by utilizing American-made ingredients
and creating new American jobs in the process." HHS Secretary
Alex Azar HHS Secretary
Alex Azar According to HHS, the contract can
be extended for up to a total of
$812 million over 10 years. The contract comes after President Trump
announced a new partnership to develop
a COVID-19 vaccine last week.
Contract to Make COVID-19 Drugs in US On Tuesday, the Department of Health and Human
Services (HHS) announced it had signed a four-year,
$354 million contract with Phlow Corporation. The company, based in Richmond, Virginia, will produce
drug ingredients to make "critical medicines to help
alleviate or prevent drug shortages" amid COVID-19. Facilities across the U.S. are expected
to manufacture the drug ingredients. According to HHS
Secretary Alex Azar, this is a "significant step to rebuild our
domestic ability to protect ourselves from health
threats by utilizing American-made ingredients
and creating new American jobs in the process." HHS Secretary
Alex Azar HHS Secretary
Alex Azar According to HHS, the contract can
be extended for up to a total of
$812 million over 10 years. The contract comes after President Trump
announced a new partnership to develop
a COVID-19 vaccine last week.