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The European Commission announced on Friday that it had granted conditional clearance for the use of Gilead Sciences’ antiviral Remdesivir in coronavirus treatment, as reported by Reuters. 

This decision came after the European Medicines Agency’s “rolling review” that started at the end of April. 

Earlier in the week, the Commission said it was in negotiations with Gilead to purchase enough doses for the member EU countries. 

Market reaction

This headline doesn’t seem to be having a significant impact on market sentiment. As of writing, the Euro Stoxx 50 Index was down 0.7% on a daily basis at 3,297 points.