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Re: Ultimate01 post# 4256

Monday, 07/20/2020 11:07:09 AM

Monday, July 20, 2020 11:07:09 AM

Post# of 4867
The U.S. Food and Drug Administration (FDA) granted Gilead Sciences (NASDAQ:GILD) emergency use authorization for its COVID-19 treatment, remdesivir, in May. The company donated its initial stock of the drug, but recently set a price and is now transitioning to selling the treatment. Gilead's investment has been steep. The company estimates it will have spent $1 billion by the end of the year. But at $2,340 per patient for a five-day treatment course, and considering a Journal of Virus Eradication report estimating it costs less than a dollar to produce a one-day dose of remdesivir, it's likely Gilead will make a profit.

There is a lot to Gilead besides coronavirus work. The biotech company's HIV drug sales are growing, led by blockbuster Biktarvy. The drug's revenue more than doubled in the first quarter, and Gilead said that in the U.S., Biktarvy is the No. 1 prescribed HIV treatment. Looking ahead, rheumatoid arthritis drug filgotinib may be another growth driver. The FDA is currently reviewing the drug and may issue a decision at any time. Gilead has already prepared for a second-half launch and hopes for approval in Europe and Japan by the end of the year.

Gilead's shares actually peaked on April 30, with a 29% gain from the start of the year. As attention turned to vaccine makers, the shares lost some steam, ultimately delivering an 18% increase for the first half. Gains moving forward might be slower than those of certain vaccine makers, but the overall path higher should be smoother.
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