Remdesivir to go global starting October
As the race of finding a viable #COVID-19 vaccine intensifies, some pharma companies are one step ahead of others.
Gilead, the California-based company, announced that alongside its distributor, it had been cleared to sell Remdesivir directly to hospitals. The clearance came from the US Department of Health and Human Services (#HHS).
The drug will be branded as Veklury. Until the clearance, the distribution of Remdesivir was oversaw by the federal government, but "because the drug is no longer a scarce resource," the oversight is no longer required.
Gilead stated that it has real-time demand for Remdesivir in the States, and starting in October, it is prepared to meet the global orders.
Gilead's Remdesivir became one of the frontrunners after the results of three clinical trials showed the benefits of the drug. Also, trial data showed that it shortens the recovery time, allowing hospitals not to be overcrowded.
The news came a few months after the Food and Drugs Administration green-lit the potential #vaccine to be used in emergency cases only.
During pre-market trading, Gilead stock price went up 2.56%.
Read about other pharmaceutical companies and their efforts to develop a COVID-19 vaccine here!
Sources: thestreet.com, finance.yahoo.com
This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.
You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.
This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.
Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of sc.capex.com