Remdesivir significantly reduces risk of COVID-19 death, Gilead claims

Data shows the drug remdesivir significantly reduced the risk of death in severely sick COVID-19 patients, biopharmaceutical company Gilead Sciences announced Friday.

Remdesivir reduced the risk of death by 62 percent when compared to normal care, Gilead claims its data shows. Gilead noted this is an "important finding that requires confirmation in prospective clinical trials." Shares of Gilead rose close to three percent before the market opened upon the news.

Gilead developed remdesivir as a potential treatment for Ebola and has been testing it on coronavirus patients for months. Late last month, Gilead said each dose of remdesivir will cost $520, totaling more than $3,000 over the course of a typical coronavirus treatment. The Trump administration has since bought up Gilead's remdesivir supply.

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