As expected, the FDA has approved the emergency use of Gilead Sciences’ (NASDAQ:GILD) remdesivir for the treatment of COVID-19 infection.
President Trump made the announcement at a White House event with company CEO Dan O’Day.
More details: Vice-President
Pence says 1M vials of the drug will begin to be distributed to
hospitals on Monday. CEO O’Day says some patients benefit from as few as
five doses.
Approval was a foregone conclusion after two
studies showed that it shortened recovery time in severely ill patients,
the first drug to demonstrate a clear treatment benefit.
Shares have pared earlier losses, now down 4.5%.
https://seekingalpha.com/news/3567792-remdesivir-cleared-for-use-for-covidminus-19
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