Gilead Stock Rises Amid Positive Coronavirus Treatment Outcome | Financial Buzz

Gilead Stock Rises Amid Positive Coronavirus Treatment Outcome

Gilead Sciences Inc (NASDAQ: GILD), an American biopharmaceutical company, is set to have a plentiful amount of its coronavirus treatment, remdesivir, by October according to CEO Daniel O’Day.

The news follows Gilead’s extensive trials of remdesivir. The drug demonstrated aiding hospitalized Covid-19 patients recover up to five days quicker. As for those in critical condition given remdesivir, recovery was accelerated by seven days. 

“These results are meaningful. They’ll definitely help patients around the world who have the misfortune of entering into the hospital to get better, and I’m really pleased to say that we have ample supply,” O’Day said on “Squawk Box.”  

Within the research, published in the New England Journal of Medicine, it was identified that the drug aided in reducing deaths within patients receiving oxygen support. 

“The earlier you treat, the better in the hospital and you can prevent people from ever even going onto those stages of the disease where the risk of dying is very high,” O’Day said. “This is a medicine that works by reducing the viral replication in the body, which is important earlier in the disease and earlier in your hospital stay, which is why it has its greatest effect there.”

Remdesivir is distributed within a hospital, through an IV, though the company is working on developing an inhaled version. 

“They confirm what we knew, which is remdesivir is active in this disease,” said Former FDA commissioner Dr. Scott Gottlieb. “It’s not a home-run drug. It’s a weakly active antiviral, but it has a treatment effect, so it is meaningful.”

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