In another upbeat news, Gilead Sciences Inc said late Monday it plans to ramp up the production of its antiviral drug Remdesivir by year end to treat more than 2 million COVID-19 patients, more than double its previous target of 1 million, per Reuters.
Gilead Chief Executive Officer Daniel O’ Day said: “We will continue to collaborate globally to ensure sufficient worldwide supply,” adding that the company donated its existing supplies of Remdesivir through June.
The company is about to start trials of an inhaled version of its experimental coronavirus treatment drug Remdesivir, O’ Day noted.
In the view of Jefferies analyst Michael Yee, “Gilead’s expectations of two million treatment courses suggests sales of between $2 billion and $3 billion between 2020 and 2021 at a price of $1,000 to $2,000 per course.”
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