money Shares of Gilead rise after FDA formally approves Remdesivir
Yahoo Finance's Anjalee Khemlani reports on the latest news in the approval of Remdesivir.
Video Transcript
ADAM SHAPIRO: Now Anjalee Khemlani has the latest for us on Gilead's Remdesivir. And I may-- I will get this wrong. I thought the WHO said Remdesivir in recent studies actually does no good. What's the latest?
ANJALEE KHEMLANI: Thanks for the question, Adam. We'll start with that. Not that it doesn't do any good, but it did-- it has limited sort of benefits. And that's sort of what I was going to start off with is that while the FDA did give full approval to Gilead's Remdesivir, there have been many health experts who sort of shrugged it off. So while it does present an opportunity for investors even there, there's some concern that with the $2,300 price tag, with the limited benefits it's only going to boost Gilead for so long before, you know, the interest starts to wane.
As it stands right now, it is the only branded drug that is approved for COVID-19, so that is sort of how it stands apart. There are others still in the works, like we know those antibody treatments that have a little bit more hope pinned on them. But as it stands right now, the only branded drug to get approval.
