A representative for Gilead couldn't be reached for comment outside of regular business hours. A spokesperson for AstraZeneca said the company doesn't comment on"rumors or speculation".Gilead's share price has climbed 18 per cent this year as its antiviral drug for Covid-19, remdesivir, worked its way through clinical trials. The stock is still more than a third lower than its 2015 highs.
Remdesivir, which has an emergency use authorisation from the US Food and Drug Administration, has been shown in some early studies to shorten hospital stays for people with Covid-19. SVB Leerink recently forecast that sales of the drug may reach US$7.7 billion in 2022. AstraZeneca, led by CEO Pascal Soriot, is helping to manufacture a Covid-19 vaccine developed at the University of Oxford. The US has pledged as much as US$1.2 billion to support the efforts as part of Operation Warp Speed, a push to secure vaccines for America. The shot is expected to enter phase III clinical trials in June.Healthcare dealmaking has been a rare bright spot as the global pandemic and resulting lockdowns have doused the market for mergers and acquisitions .
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