US buys all of the global supply of Gilead’s COVID-19 drug remdesivir
Category: #world  By Pankaj Singh  Date: 2020-07-03
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US buys all of the global supply of Gilead’s COVID-19 drug remdesivir

While top-notch companies are racing to develop a vaccine for COVID-19, it looks like the United States has secured almost all of the world’s supply of interim drug remdesivir to treat patients with COVID-19.

According to sources familiar with the knowledge of the matter, the US has decided to buy almost all of the next three months' planned production of remdesivir from the US manufacturer Gilead Sciences, Inc. The announcement came on Tuesday when the US health department stated that it has agreed to buy 500,000 doses of remdesivir for the use in American hospitals. 

Alex Azar, Department of Health and Human Services Secretary said in a statement that Trump administration has struck an exceptional deal to ensure American people have access to the first authorized therapeutic for COVID-19.

Earlier in May, Gilead had signed a licensing deal for the production of the drug, outside the US; however, it is still in early stages.

Remdesivir is looked upon as the drug that cuts recovery times but has shown less promise in improving survival rates.

In 127 mostly poorer countries, nine firms can make the drug under the license outside America for distribution, with lower costs. However, the project remains in its early stages. 

Critics argue that the US decision to secure almost all stock from Gilead itself undermines international co-operation on COVID-19, given that other countries have taken part in trials of remdesivir, which was originally an anti-viral drug developed against Ebola. Some others in the United States criticized the purchase price, given that the money of taxpayers contributed to the development of the drug's fund.

Intending to produce the drug for use in developing nations, Gilead has implemented voluntary licensing agreements with several manufacturers around the world. 

There is also a mandatory license mechanism that could make it possible for countries, in extremis, to ignore the intellectual property rights of Gilead and produce their own generic versions of the drug.

Source Credit - https://www.bbc.com/news/world-us-canada-53254487



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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