Posted on 04/16/2020 3:24:19 PM PDT by Red in Blue PA
U.S. stock futures surged on Thursday night after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus. The move pointed to a jump for the stock market on Friday.
Dow Jones Industrial Average futures were up 700 points, or about 3%. S&P 500 futures gained 2.8% while Nasdaq 100 futures were up by 1.8%.
Gilead shares jumped by 14% in after-hours trading after STAT news reported that a Chicago hospital treating coronavirus patients with Remdesivir in a trial were recovering rapidly from severe symptoms. The publication cited a video it obtained where the trial results were discussed.
(Excerpt) Read more at cnbc.com ...
And even though many disastrous states in other countries are of the people’s making (our country included sometimes) i dont want to see kids go out like that.
They didnt commit any crimes except have idiots for adults running their countries
Didn’t the good folks in Manitoba, Canada also help out?
Gilead sought and obtained "orphan drug" status for remdesivir from the US Food and Drug Administration on March 23rd, 2020. This provision is intended to encourage the development of drugs affecting fewer than 200,000 Americans by granting strengthened and extended legal monopoly rights to the manufacturer, along with waivers on taxes and government fees.
Remdesivir is a candidate for treating COVID-19; at the time the status was granted, fewer than 200,000 Americans had COVID-19, but numbers were climbing rapidly as the COVID-19 pandemic reached the US, and crossing the threshold soon was considered inevitable. Remdesivir was developed by Gilead with over $79 million in U.S. government funding. After facing strong reactions, Gilead gave up the "orphan drug" status for remdesivir on March 25th. Gilead retains 20-year remdesivir patents in more than 70 countries.
Gilead has also been accused of price-gouging on other medications developed with public funding, including AIDS PrEP drug Tenofovir and hepatitis C drug Sofosbuvir
Is there balm in Gilead?
Maybe HCQ will be found to be a good prophylactic for covid-19.. Protection for hospital workers and venerable folks...
The market is going to be volatile for awhile. That means that there is money to be made.
No, Nancy and her fellow cRats are elated because they probably own shares of stock in Gilead, which is why they opposed a low-cost generic drug called Hydroxychloroquine. Why use a drug that cost pennies per dose when we can use a drug that cost thousands of dollars to produce the same results.
it is encouraging
I read the article that CNBC referenced (https://www.statnews.com/2020/04/16/early-peek-at-data-on-gilead-coronavirus-drug-suggests-patients-are-responding-to-treatment/). Very interesting
What were they giving people in New York? Anything?
I’ve seen some price-gouging on Walmart, and, of course, Amazon.
Oh no that can’t be!
You all can thank me. I recently bought ETF’s that shorted the Nasdaq, the Dow, and the S&P 500. The market has taken off since then. I should always do the opposite of my inclinations. Damn!
yes, only 2 of 133 severe disease patients is amazing if it bears out
Why is this news?Isn’t this what the chicoms were doing?
I dunno. Do you know?
Gilead might be more expensive than HCQ and take longer to make available. We'll see what happens.
Yes. This is hype to pump the stock. Been known for months. HCQ is probably just as good or better.
I’ve kind of thought that the campaign against the generic low cost public domain hydroxychloroquine had a little or a lot to do with the potential big big money for this drug. Fauci, e.g.
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