Gilead Sciences (NASDAQ: GILD) is quite a famous pharmaceutical company these days. It’s antiviral redeliver is the hot drug of the moment due to its apparent success in clinical trials with patients who have COVID-19, the disease caused by the SARS-CoV-2 coronavirus.
A hot drug leads to a lot of interest in a stock, which is the key reason why Gilead’s shares have generally been on the rise since the world became reacquainted or initially acquainted with redelivering (formerly a treatment for Ebola). But I think that as an investment, the company has another very attractive factor that isn’t getting quite so much attention — or any at all.
Gilead is seeing strong early results for antiviral medicine remdesivir. That sent Gilead stock soaring 12% early Friday. For the coronavirus stock market rally, the Gilead remdesivir news raises hope that an effective treatment will make it easier to open up the economy.
Japan’s Prime Minister Shinzo Abe revealed on Monday the country’s plan to develop the COVID-19 vaccine outlines clinical trials on humans could begin in July.
Multiple pharmaceutical companies have already begun tests of experimental vaccines to find a permanent treatment for the novel coronavirus, including Moderna and Pfizer, both based in the United States.
While the Asian country is preparing to lift the state of emergency, its Health Ministry approved Gilead Sciences’ drug remdesivir for use against the disease.
On the other side of the world, The Trump administration has mishandled efforts to deliver the antiviral drug remdesivir to parts of the country that need the possible COVID-19 treatment the most, according to a report from Axios.
Citing unnamed sources familiar with the talks, a “complete breakdown” in communication and coordination within the administration has led to a failure to deliver the drug to high-priority hospitals. The report also notes no one has assumed responsibility for the alleged delays.
The drug manufactured by Gilead Sciences has shown promising results in clinical trials as a treatment for the coronavirus and was donated by the company to the federal government after receiving special authorization from the Food and Drug Administration.
The only drug given emergency authorization by the Food and Drug Administration to treat patients with the coronavirus has arrived in Illinois, and more than 90% of it will go to patients being treated at hospitals in Cook County.
Gilead Sciences Long (Buy)
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