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Gilead's Covid-19 Drug Wins Full FDA Approval

Published 10/22/2020, 04:13 PM
Updated 10/22/2020, 04:18 PM
© Reuters

By Yasin Ebrahim

Investing.com - Gilead surged in after-hours trade Thursday after its antiviral drug Veklury, or remdisivir, was approved by the Federal Food & Drug Administration to treat patients with COVID-19 requiring hospitalization.

Gilead Sciences (NASDAQ:GILD) rose more than 4% in after-hours trade. 

The company's antiviral drug was previously authorized by the FDA for emergency use to treat COVID-19. "Veklury is now the first and only approved COVID-19 treatment in the United States. The drug is now widely available in hospitals across the country, following early investments to rapidly expand manufacturing capacity to increase supply," Gilead said. 

This approval was based on trials including the recent phase 3 ACTT-1 trial, which "showed that treatment with Veklury resulted in clinically meaningful improvements across multiple outcome assessments compared with placebo in hospitalized patients with COVID-19," it added.

Latest comments

Who cares. November 4th you wont hear *******about this
Your right! Then Mr Trump will have four more years to MAGA.
Standard FDA approval will allow hospitals to use remdesivir to treat folks still in relatively good standing, without waiting for life-or-death moment. In other words, it will be used when chances for successful cure are still high, and it will help to make then even higher. It will potentially save enormous number of lives. It is just plain awful that some folks on this forum hate it, no matter what.
I would not want any drugs being used and proof by political targets in mind.
It is essentially useless. Ivermectin for $6 has better proven efficacy. This is just corporate welfare, which a failing economy can ill afford.
no one wants this super rushed vaccine. dangerous
It's not a vaccine. Please learn to read
Yeah, it’s better...more like a potential cure!
1000, for 1 shot? profit margin 9999%?
Reminds me of Martin Shkreli
Gilead stock should be punished for this stunt.
This news would lead to an improvement in the economy and cause prices to rise.
Remdesivir is not expensive, and also treatment is better than vaccine by many medical and social reasons.
One randomized, double-blind, placebo-controlled clinical trial (ACTT-1), conducted by the National Institute of Allergy and Infectious Diseases, evaluated how long it took for subjects to recover from COVID-19 within 29 days of being treated. The trial looked at 1,062 hospitalized subjects with mild, moderate and severe COVID-19 who received Veklury (n=541) or placebo (n=521), plus standard of care. Recovery was defined as either being discharged from the hospital or being hospitalized but not requiring supplemental oxygen and no longer requiring ongoing medical care. The median time to recovery from COVID-19 was 10 days for the Veklury group compared to 15 days for the placebo group, a statistically significant difference. Overall, the odds of clinical improvement at Day 15 were also statistically significantly higher in the Veklury group when compared to the placebo group. In hospitalized patients with mild to moderate disease, the results for time to recovery as well as the odds of
3k per dose and its not a vaccine, its a treatment.
Remdesivir works. Great job done by Gilead.
This stock has done nothing but go down for months since I bought it at $80...Finally some good news
What a crock, rem does nothing. Show me Leronlimab!
don't need a vaccine and don't need this ridiculously expensive drug
Earlier this month, a World Health Organization-sponsored global study found remdesivir did not help patients survive or even recover faster, but a US study found the infused drug shortened recovery time for some patients by about a third.
We've already seen lots of disinformation come the WHO.This could be reputable info but only time will tell. We know there are entities that want to prolong the hysteria as long as possible
not a vaccine. you have to get sick with covid to get treated.
But it's just like a flu..
This mean that they have nothing and vaccine bug free utopia is gone so they have to stick to itand deliver on something to say we got the miracle delivery before the elections.
I hope it isn't some political ploy.
Time to buy some vaccines
this drug non effective as health authorities said before .. what is that for approval?
This is a turning point
For the FDA’s reputation?
So vaccine hopes won’t be a thing any more, huh?
We will see what happens when you mix politics and science.
You mean political science?
yeah, that comes into mind after I said that...lol
There is somthing fundamently wrong with this company. The stock has been in a downtrend for years. I think it’s a management issue and the board must look into changing the leadership.
wrong site.. you’re looking for short stories and fairytales board
I suppose it was just overlooked. lots of companies do well in business and poorly in the stock market and the opposite can be said as well. Stocks are silly to me. It's a mixture of fundamentals, technicals, and sentiment. Mainly sentiment I think because of what I said in the first sentence. I stick with FX because it's technically driven. Sure there are sentiment drivers at times but in between it's all technical, and that's why I don't swing trade. A sudden vaccine developed in the US or something of that magnitude can sway things quickly.
The stock is down because the company is not looking to make profit out of their invention. They have donated a million doses of remdesivir. Its a whole lot of money.
Operation warp speed 1 - skeptics 0
Hahahaha. Yep, proven!
Really good news
I usually trade Forex, what is your opinion on this stock? Do you think it will grow from now on?
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