FILE PHOTO: An ampule of Ebola drug Remdesivir is pictured during a news conference at the University Hospital Eppendorf (UKE) in Hamburg, Germany, April 8, 2020, as the spread of coronavirus disease (COVID-19) continues. Ulrich Perrey/Pool via REUTERS/File Photo
(Reuters) – Gilead Sciences Inc’s potential COVID-19 treatment, remdesivir, could bring in more than $7 billion in annual sales by 2022, spurred by governments stockpiling the drug to guard against future outbreaks, SVB Leerink said on Wednesday.
Remdesivir has shown improvement in COVID-19 patients in clinical trials and has been cleared for emergency use in severely ill patients in the United States, India and South Korea. Some European nations are using it in compassionate use.
The U.S. drugmaker is yet to set a price for the drug that is currently being administered intravenously in hospitals.
SVB Leerink analyst Geoffrey Porges, who upgraded his rating on Gilead’s shares to “outperform”, estimates remdesivir…
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