Siga announces creation of joint procurement mechanism by european commission with anticipated initial orders of approximately $18 million for oral tpoxx® (tecovirimat) by participating countries

New york, oct. 23, 2023 (globe newswire) -- siga technologies, inc. (siga) (nasdaq: siga), a commercial-stage pharmaceutical company focused on the health security market, today announced the creation by the european commission's dg hera (health emergency preparedness and response authority) of a joint procurement mechanism under which 13 participating countries from the european union (eu) and the european free trade association (efta) can efficiently order oral tpoxx. based on commitments from eu member countries, it is currently anticipated that $18 million in approximate value of oral tpoxx will be initially ordered by eu countries under this mechanism within the next 60 days. orders through the joint procurement mechanism will result in country-level procurement of oral tpoxx. under the joint procurement mechanism, countries in the eu will acquire courses of oral tpoxx in the near term, and be able to efficiently order additional courses of oral tpoxx in the future as long as minimum quantity thresholds are met. separately, as announced in september of 2022, the european commission procured oral tpoxx through the funding of a direct purchase. both transactions were coordinated by siga and its international promotion partner, meridian medical technologies, llc.
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