Gilead’s Remdesivir coronavirus treatment to be available in 127 countries, risk still fragile
|Late Tuesday, Gilead Sciences announced that it has reached a deal with five generic drugmakers to make antiviral drug Remdesivir in 127 countries, not including the US, per CNBC.
Additional details
"Drugmakers Mylan, Cipla, Ferozsons Laboratories, Hetero Labs and Jubilant Lifesciences will manufacture Remdesivir for distribution in “low-income and lower-middle-income countries, as well as several upper-middle- and high-income countries” that face health-care obstacles amid the coronavirus pandemic."
"The deal is “royalty-free” until the World Health Organization says the Covid-19 outbreak is no longer a global health crisis or “until a pharmaceutical product other than Remdesivir or a vaccine is approved to treat or prevent Covid-19, whichever is earlier.”
Market reaction
Despite the positive news for the coronavirus cure, the second virus wave fears continue to dominate amid US-China trade tensions, tempering the risk sentiment.
USD/JPY is consolidating the bounce above 107.00 while the AUD/USD pair looks to regain 0.6500. However, the Asian equities and S&P 500 futures trade with moderate losses. The US Treasury yields remain heavy, with the 10-year rates down nearly 5%.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.