Contest Trader

Don't miss the chance to cash-in prizes totaling

$10.000
Register here for the Ultimate demo trading competition

Remdesivir: the first COVID-19 drug to obtain formal clearance from the FDA

Remdesivir: the first COVID-19 drug to obtain formal clearance from the FDA

Remdesivir "is now the first and only approved covid-19 treatment in the U.S."

After being one of the frontrunners in finding a viable COVID-19 vaccine, Gilead passed a new milestone.

The continuous promising results made the U.S. Food and Drug Administration approve Gilead's antiviral Remdesivir. It is the first drug of its kind to receive formal clearance to treat COVID-19 infected patients.

The medicine’s approval comes after earlier this year it was granted an emergency use authorization to be administrated to hospitalized patients. It will be sold under the name of Veklury. Moreover, President Trump underwent the treatment when he was found positive for COVID-19 infection. However, according to a report from the World Health Organization, Remdesivir didn't reduce the death toll caused by the virus.

"Veklury is now the first and only approved Covid-19 treatment in the United States," read Gilead's statement. Moreover, if in the beginning, the drug was shot on supply, now, the manufacturing capacity has expanded.

Following the report, Gilead's stock price gained 0.76%. In today's pre-market trading, it went up more than 5.50%.

Sources: thestreet.com, Bloomberg.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not 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This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.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 za.capex.com