Pfizer and Gilead join forces

By: Miguel A. Rodriguez

09:45, 14 September 2020

A COVID-19 vaccine is in the works

After a busy second quarter, as it is developing a COVID-19 vaccine, Pfizer doesn’t seem to slow down. The company just signed a multiyear agreement to produce and deliver Gilead’s Remdesivir. 

The deal is part of Pfizer’s five-point plant launched in March, by which pharmaceutical companies are to work together to provide a COVID-19 treatment. 

Under the deal, Pfizer will provide manufacturing and supply services at its McPherson facility for Gilead. Being one of the largest drug-makers globally, Pfizer is expected to facilitate the production of Remdesivir and put it quickly on the market. 

Albert Bourla, Chairman and CEO at Pfizer, stated that "we are pleased that Gilead is using our manufacturing capacity to help facilitate the supply of this medicine to patients as quickly as possible."

Currently, Remdesivir is one of the front-running treatments, as clinical trials showed a 62% decrease in mortality rates when administrated. Now, the drug is available only for treating severe cases of COVID-19 infection.

On Monday, Gilead Sciences applied for approval from the FDA (Food and Drug Administration) for Remdesivir.

During pre-market trading, Gilead stock price added 0.35%, while Pfizer gained 0.21%.

See how Pfizer performed in Q2 here! Don’t forget to check-out our Corona Blend!


Share this article

The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.                                                                                                                            Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience, or current financial situation.Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.