Genentech, Regeneron, Allergan, and Novartis are extending payment terms in response to the COVID-19 crisis.
George Williams, MD, discussed the terms of extended payment by Genentech and Regeneron on a recent episode of New Retina Radio, and the details were confirmed by statements from the companies. Regeneron has extended payment terms to 150 days (from 100 days), and Genentech extended payment terms to 120 days (from 60 days).
A company statement acquired by Eyewire News reports that Allergan will provide an additional 30-day grace period on top of its usual 120-day period for orders placed on or before March 23. A Novartis statement said that it will extend terms, but did not provide details.