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Gilead cleared to distribute Remdesivir to hospitals

Miguel A. Rodriguez
Miguel A. Rodriguez
05 October 2020
Remdesivir to go global starting October

As the race of finding a viable #COVID-19 vaccine intensifies, some pharma companies are one step ahead of others.

Gilead, the California-based company, announced that alongside its distributor, it had been cleared to sell Remdesivir directly to hospitals. The clearance came from the US Department of Health and Human Services (#HHS). 

The drug will be branded as Veklury. Until the clearance, the distribution of Remdesivir was oversaw by the federal government, but "because the drug is no longer a scarce resource," the oversight is no longer required. 

Gilead stated that it has real-time demand for Remdesivir in the States, and starting in October, it is prepared to meet the global orders.  

Gilead's Remdesivir became one of the frontrunners after the results of three clinical trials showed the benefits of the drug. Also, trial data showed that it shortens the recovery time, allowing hospitals not to be overcrowded.

The news came a few months after the Food and Drugs Administration green-lit the potential #vaccine to be used in emergency cases only. 

During pre-market trading, Gilead stock price went up 2.56%.

Read about other pharmaceutical companies and their efforts to develop a COVID-19 vaccine here!


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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.