GILD stock is consolidating and looks ready to take the next leg up.
Gilead Sciences, Inc. (Nasdaq: GILD) announced that the European Commission has granted conditional marketing authorization for Veklury® (remdesivir) as a treatment for SARS-CoV-2 infection, the virus that causes COVID-19. The conditional marketing authorization was granted in the interest of public health due to the COVID-19 pandemic and was based on a rolling review of supporting data that began in April 2020.
Under this authorization, Veklury is indicated for the treatment of COVID-19 in adults and adolescents (aged 12 years and older and weighing at least 40 kg), with pneumonia requiring supplemental oxygen.
“We appreciate the European Medicines Agency’s rapid review of remdesivir in recognition of the unprecedented nature of this pandemic,” said Merdad Parsey, MD, PhD, Chief Medical Officer, Gilead Sciences. “This conditional marketing authorization is an important step forward as we work together to address the treatment needs of patients across Europe.”
Veklury has been studied in hospitalized COVID-19 patients spanning a range of disease severity. The conditional marketing authorization for Veklury is supported by the U.S. National Institute of Allergy and Infectious Diseases’ global Phase 3 trial of remdesivir. A conditional marketing authorization in Europe is initially valid for one year but can be extended or converted into an unconditional marketing authorization after the submission and assessment of additional confirmatory data.
Ongoing clinical trials continue to evaluate the safety and efficacy of remdesivir, including studies of remdesivir in combination with anti-inflammatory medicines and in special populations including pediatric patients. Research is also being conducted on new, investigational formulations of remdesivir that may enable studies of remdesivir in earlier stages of disease.
On July 1, 2020, the Financial Times’ reported that the European Commission is in discussions with Gilead to reserve doses of its remdesivir drug to combat COVID-19 after the U.S. said it had purchased much of the global supply. Stella Kyriakides, health commissioner for the EU, has held a series of talks with the pharma company, including over its production capacity, the authors say. “Commissioner Kyriakides has been in multiple discussions with the manufacturer, Gilead, including on their production capacity,” the commission said. “The commission is also currently in negotiations with Gilead to reserve doses of remdesivir for EU member states.” Source: https://www.ft.com/content/25c65784-00a7-4e80-a11f-e8e7928f9be0?utm_medium=Social&utm_source=Twitter#Echobox=1593639767
Gilead Sciences News From Google
- $SPY US Moving Closer to Double-Dip Recession Economist Warns - August 11, 2020
- $DLN Case for Value Stocks Is Rising, Strategist Shah Says - August 10, 2020
- $SPY Trump Executive Orders Not Enough Says Moodys - August 10, 2020