UK Clears Gilead's Remdesivir For Some Coronavirus Patients

Tanzeel Akhtar

Tue, May 26, 2020, 3:46 PM1 min read

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The U.K. approved the use Tuesday of Gilead Sciences Inc's (NASDAQ: GILD) remdesivir for some patients with COVID-19.

The drug is to be made available on the NHS for some patients. U.K. Health Minister Matt Hancock says the antiviral drug is probably the biggest step forward since the crisis began.
The drug remdesivir was granted U.S. Food and Drug Administration emergency use for the treatment of the coronavirus on May 1.

Remdesivir will be prescribed for the patients most likely to benefit at this time due to limited supplies, reports the BBC.

Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

It is estimated that Gilead Sciences could sell $3.2 billion of remdesivir in 2021, reports Barron's, citing an analyst from SunTrust Robinson Humphrey.

Gilead's shares were trading 0.26% higher at $73.53 at the time of publication Tuesday. The stock has a 52-week high of $85.97 and a 52-week low of $60.89.

Related Links:

Gilead Analysts See Questionable Commercial Opportunity For Coronavirus Candidate Remdesivir

Moderna, Lonza Strike Deal To Manufacture Up To 1 Billion Doses Of Coronavirus Vaccine Candidate Annually

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