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Coronavirus latest: Wednesday, May 13

On Wednesday, Gilead announced that it would be partnering with five major generic drug making companies to help mass produce and distribute its coronavirus treatment, Remdesivir. Yahoo Finance’s Anjalee Khemlani joins The Final Round panel to break down the latest news about the coronavirus.

Video Transcript

MYLES UDLAND: Let's turn now to what's happening with the coronavirus here in the US and around the world. Anjalee Khemlani joins us now for the latest on that. Anjalee.

ANJALEE KHEMLANI: Thanks, Myles. Yep. So unfortunately, those numbers going up. We surpassed 4.3 million cases globally today, along with 294 deaths globally. In the US, that number at 1.38 million, but nearing that 1.4 mark, and more than 83,000 deaths.

Now, behind all this, as we know, is that search, that race, for a vaccine or treatment, both of which would give confidence. But a vaccine now more heavily in focus as we're starting to see the declines in those numbers nationwide. So relying on that vaccine to really help with opening up everything from schools to businesses.

But in the meantime, we have an update from Gilead, which yesterday-- late yesterday-- announced a deal with five generic drug companies in order to produce-- mass produce-- the drug Remdesivir, which has shown modest improvements in patients that have been taking it in a number of studies.

And so that announcement is really important, because it goes-- it addresses sort of the crux of the issue on where and when will people get access to this drug, especially globally, especially with geopolitics in play. There's been a lot of questions around this. And so that sort of helped alleviate concerns about maybe it would only be restricted to the US.

But we have seen now these five manufacturers now in play. And that is also going to be royalty-free. So Gilead itself will not be able to get royalties from this until the World Health Organization reduces the coronavirus outbreak from a global pandemic or if a vaccine is found. That's when Gilead will pull back and start to look at ways to make revenue off of it.

And so that was one of the things that sort of sent the stock down. Meanwhile, we know that the company is-- not just the company, but also the National Institute of Health-- is looking at ways to create sort of a cocktail, drawing from the HIV playbook, to develop multiple therapies in order to address the virus, because we've, again, only seen minor improvements with this one drug. So the way that they're thinking of attacking it is really just with multiple options. And so that's something that they're working on right now, Myles.

MYLES UDLAND: All right. Anjalee Khemlani with the latest on where things stand with the coronavirus. We'll talk to you next hour.

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