latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/covid-19-drug-props-up-gilead-shares-as-pandemic-tanks-markets-58537609 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

COVID-19 drug props up Gilead shares as pandemic tanks markets

COVID-19 Pandemic Likely To Cause US Telemedicine Boom

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


COVID-19 drug props up Gilead shares as pandemic tanks markets

Gilead Sciences Inc.'s remdesivir, the first U.S.-authorized treatment for COVID-19, has driven the pharmaceutical company's stock up as the overall markets tumbled amid the pandemic.

Foster City, Calif.-based Gilead outperformed the markets by almost 30 points as of May 8. Gilead's stock was just over $65 per share Jan. 2 and has risen to almost $78 as of May 12.

SNL Image

Remdesivir entered human trials first in China at the beginning of February, followed by announcements that the U.S. federal government and Gilead would begin conducting U.S. trials. The drug was previously unapproved but has been tested to treat patients with Ebola, SARS and MERS.

Gilead's share price fell in April when the Chinese trial stopped enrolling patients, and again when poor results were revealed in error. But shortly thereafter on April 29, the U.S. trial, which employed a placebo arm required for scientific rigor, showed improvement in COVID-19 patients' conditions and the stock recovered.

The U.S. Food and Drug Administration granted emergency use authorization for remdesivir May 1. This triggered a fall in share price as public attention turned to access issues regarding the drug, with medical groups calling for equitable distribution.

Gilead executives are aiming to massively scale up manufacturing, including joining forces with manufacturers like Mylan NV and others.