Gilead shares rise after United States approves remdesivir as COVID-19 drug

The U.S. health regulator’s approval on Thursday for its use in hospitalized patients came despite the World Health Organization last week saying the drug did not have a substantial effect on patients’ length of hospital stay or chances of survival in a global trial.

The U.S. Food and Drug Administration’s backing signals its confidence in Gilead’s U.S.-based study results, which showed the drug was able to cut time to recovery in patients, Piper Sandler analyst Tyler Van Buren said in a client note. Remdesivir has been available under an FDA emergency use authorization since May, after a study led by the National Institutes of Health showed it reduced hospital stays by five days.

The drug, given intravenously, could generate over $1 billion in sales during the second half of the year at the current case rate, analyst Van Buren said. Remdesivir, which will be sold under the brand name Veklury, costs $3,120 for a five-day treatment course, or $2,340 for government purchasers such as the Department of Veterans Affairs.Reporting by Manojna Maddipatla in Bengaluru; Editing by Arun Koyyur

This drug ?

Gilead?

Love to hear the story behind that company name-choice. Did they read the handmaids tale and decided 'yea Gilead, what a perfect world of enslaved people, that's what we want. Lets use that as our drug-company name' Handmaid's Tale: Pub. 1985 Gilead drugcompany: 1987

Very funny..

Reading Gilead and USA in one sentence always feels creepy. I always have to think of thehandmaidstale

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