CDC: Gilead Sciences' Remdesivir Is Being Used to Treat Coronavirus Patients

The latest headlines regarding the COVID-19 outbreak aren't good. As of March 11, there are more than 1,200 confirmed cases of the disease in the U.S., and more than 30 people have died from it. Worldwide, there are more than 110,000 confirmed cases and more than 4,200 deaths.  The World Health Organization (WHO) has officially declared COVID-19 a pandemic, and things could get worse before they get better. Several drugmakers are currently trying to find a vaccine or a treatment for the rapidly spreading disease, and arguably the leader in this race is Gilead Sciences (NASDAQ: GILD). 

Gilead Sciences' remdesivir -- a drug that was originally developed to treat Ebola but with little success -- is currently being investigated as a treatment for COVID-19. However, according to the director of the U.S. Centers for Disease Control and Prevention (CDC), Robert Redfield, remdesivir is already being given to COVID-19 patients. The U.S. Food and Drug Administration allows patients in the U.S. to use unapproved drugs in "life-threatening" situations when there are no other options, which explains why COVID-19 patients are permitted to take remdesivir. 

Image source: Getty Images.

Continue reading

Source Fool.com