Gilead Drug Is Cleared for Emergency Use by FDA, Trump Says
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Gilead Sciences Inc.’s antiviral drug has been cleared by U.S. regulators for emergency use in Covid-19 patients, President Donald Trump told reporters at the White House Friday.
The drug, remdesivir, has shown positive results in helping hospitalized patients recover more quickly. The Food and Drug Administration cleared the drug under an emergency use authorization, a step by which the agency can bring products to market without full data on their safety and efficacy.
Gilead shares closed down 4.8% at $79.95 in New York. The company has faced questions from investors about how it plans to make money on the drug.
FDA Commissioner Stephen Hahn, speaking with Trump, said the drug was being cleared for emergency use in hospitalized patients. A U.S.-led study released this week showed that patients who got the drug recovered in an average of 11 days, while those who get a placebo recovered in 15 days.
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