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Palantir Wins FDA Contract to Power Drug Review, Inspections

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Palantir Technologies Inc. won a deal with the U.S. Food and Drug Administration to help power drug reviews and inspections, further expanding the company’s government business as it hustles to hit a raised revenue target for 2020.

The three-year deal is worth $44.4 million and will allow the FDA’s Center for Drug Evaluation and Research and the Oncology Center of Excellence to use Palantir software to integrate and analyze data. The software will help the agency approve drugs, including possible Covid-19 treatments, and monitor the safety of items like hand sanitizer. Earlier this year, the FDA warned the public that hand sanitizers containing wood alcohol were toxic.