US has accepted 30 mln doses of hydroxychloroquine sulfate donated by Novartis's Sandoz as possible treatments for COVID-19

Ross J Burland FXStreet

US HHS says it has accepted 30 mln doses of hydroxychloroquine sulfate donated by Novartis's Sandoz as possible treatments for COVID-19 patients.

Hydroxychloroquine, as well as a related drug, chloroquine, have been evaluated for use against COVID-19 in clinical trials around the world. Hydroxychloroquine is a derivative of chloroquine and is reported to be a less toxic form of the latter drug. US President Donald Trump has been in favour of the use of the chloroquine against the disease based on early data evaluating its efficacy against the novel coronavirus disease.

Key notes

US HHS says accepts donations of medicine to strategic national stockpile as possible treatments for COVID-19 patients.
US HHS says accepted 30 mln doses of hydroxychloroquine sulfate donated by Novartis's Sandoz as possible treatments for COVID-19 patients.
US HHS says accepted 1 mln doses of chloroquine phosphate donated by Bayer pharmaceuticals as possible treatments for COVID-19 patients.

Market implications

Watch and see. Markets are risk-off and taking each and every headline with respect to a cure with a pinch of salt. More on this here: US Pres. Trump: Working to speed up FDA approval on sterilizing medical masks for reuse

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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