Skip to main content
Tags: gilead | remdesivir | coronavirus | covid19

Remdesivir Maker Gilead Moving to 'Sustainable Model,' CEO O'Day Says

Gilead Sciences,
The logo of Gilead Sciences, which makes remdesivir, a promising antiviral drug for the treatment of Covid-19 (Getty Images)

By    |   Friday, 01 May 2020 03:10 PM EDT

Gilead Sciences, the maker of the experimental antiviral drug remdesivir, is working to transition to a more "sustainable model" as it shifts to making the drug accessible and affordable to coronavirus patients after study results were released this week showing promising results, company CEO Daniel O'Day said Friday. 

"There is no playbook for this situation that we’re in today,” O'Day said on CNBC's "Squawk Box." "This is the time for us all as an industry, especially Gilead, to do the right thing...we understand our responsibility both to patients and also to shareholders and we’ll be balancing that."

Earlier this week, the company released preliminary results of a clinical trial of remdesivir that showed at least 50% of the COVID-19 patients who had been treated with a five-day dosage of the drug improved. Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, also announced results from the institute's own study, which revealed that patients who took the antiviral medication recovered after 11 days, or four days faster than people who did not take the drug. The medication has not yet been approved to treat COVID-19  and health officials say the net data about it has not yet been peer-approved.  

Gilead says it is prepared to donate 1.5 million doses of its drug to patients hospitalized with COVID-19, but O’Day said Friday the research and manufacturing of the drug will require investment. The company spent $50 million on research and development of the medication in the first quarter alone, according to an earnings report released on Thursday, and said it could end up spending as much as $1 billion this year. 

On Friday, O'Day said Gilead will scale up its supply chain, after it learned from other outbreaks like influenza, as it's "extremely important you have a robust supply chain with a lot of duplication in it."

Sandy Fitzgerald

Sandy Fitzgerald has more than three decades in journalism and serves as a general assignment writer for Newsmax covering news, media, and politics. 

© 2024 Newsmax. All rights reserved.


US
Gilead Sciences, the maker of the experimental antiviral drug remdesivir, is working to transition to a more "sustainable model" as it shifts to making the drug accessible and affordable to coronavirus patients...
gilead, remdesivir, coronavirus, covid19
309
2020-10-01
Friday, 01 May 2020 03:10 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved