May 1, 2020
On the heels of an early announcement that coronavirus patients given Gilead’s Ebola drug remdesivir fared better than those who didn’t get the treatment, the company’s CEO, Daniel O’Day, deemed the results a cause for ‘hope at a time when it is badly needed,’ in an open letter obtained by Fox News.
‘Positive data’ from a National Institutes of Health (NIH) trial of remdesivir sent the stock market soaring by 530 points on Wednesday.
Though pre-market trading was halted for Gilead, the announcement was no doubt a boon for O’Day’s company.
Following Dr Anthony Fauci’s disclosure that NIH trial participants taking remdesivir had shorter recovery times and were 30 percent less likely to die of coronavirus, the New York Times reported that the Food and Drug Administration (FDA) planned to give the drug emergency use authorization for treating the virus as early as that day.
It comes as cases of coronavirus in the US surge past one million and deaths surpass President Trump’s ‘best case scenario’ of 60,000 fatalities in the country.
This article was posted: Friday, May 1, 2020 at 3:47 am