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

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Miguel A. Rodriguez
Miguel A. Rodriguez
23 October 2020
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/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.