As the race of finding a viable COVID-19 vaccine intensifies, more companies are releasing their take on the vaccine. The latest pharma corporation to do so is Eli Lilly.
The drugmaker applied to the Food and Drug Administration for emergency use of its potential COVID-19 vaccine, Y-CoV555. The request comes after the drug met both the primary and secondary endpoints in trials. According to trial data, the drug reduced the need for hospitalization and ER visits on patients with moderate symptoms.
"Our teams have worked tirelessly the last seven months to discover and develop these potential antibody treatments." "We believe the data generated to date provide sufficient evidence that both monotherapy and combination therapy may be effective to treat #COVID-19 in patients with a high risk for serious outcomes," stated Eli's Daniel Skovronsky, chief scientific officer.
But Eli Lilly is not the only one who posted promising results. Gilead released the results of a late-stage study of its potential #vaccine #Remdesivir. According to the data, Remdesivir showed consistent and meaningful results compared to those who have taken placebos in Phase III of the trials.
According to Gilead's CEO, the company will have enough supplies to distribute globally by the end of October. As of yesterday, it has shipped to Europe 20,300 doses – enough to treat 3,400 patients.
Following the news, Gilead stock price is set to open 0.49% higher, and Eli Lilly 0.71%.
Read how pharma companies are trying to come up with a viable COVID-19 vaccine on CAPEX.com!
Sources: thestreet.com, finance.yahoo.com