The World Health Organization has said there is no evidence that Gilead Sciences Inc.’s remdesivir improves survival for hospitalized COVID-19 patients, according to Bloomberg. The global health body recommends against its use, less than a month after U.S. regulators granted the drug a speedy approval.
- The U.S. Food and Drug Administration (FDA) will review remdesivir but said, “there were no issues identified that would benefit from discussion.”
- WHO made the recommendations after trials found that remdesivir does not reduce deaths and has no meaningful effects on the patient.
- WHO has also cited “relatively high cost and resource implications associated with remdesivir” but has warned that its recommendations should not be interpreted to mean the drug is ineffective.
- Gilean has questioned WHO’s trial results saying it has not released key data to allow the company and others to evaluate the interim results’ reliability.
- The FDA granted emergency use authorization to remdesivir in May, while the European Commission granted it conditional authorization in July.
- Multiple studies have supported that remdesivir, known by the brand name Veklury, improves COVID-19 recovery time by up to five days.
- Remdesivir was among the first drugs to be used to treat COVID-19 and was used by Donald Trump when he was diagnosed with the virus in early October.
Gilead’s stock is declining. GILD: NASDAQ is down 2.24% on premarket