Guido Rasi, the Executive Director of the European Medicines Agency (EMA), has suggested that Gilead’s (GILD) Covid-19 treatment remdesivir could be conditionally approved in Europe as soon as this week.“It might be that a conditional market authorization can be issued in the coming days,” Rasi revealed to an EU Parliament hearing in Brussels on May 18.Conditional marketing authorizations are valid for one year and can be renewed annually. They are granted by the EMA for medicines where the benefit of immediate availability outweighs the risk of less comprehensive data than normally required.Indeed, remdesivir has already received the green light from the EMA for compassionate use for patients during this pre-authorization phase.GILD also received an Emergency Use Authorization (EUA) from the United States for the drug on May 1.Since then Gilead has signed non-exclusive licensing agreements with five generic pharmaceutical manufacturers to produce and sell remdesivir in 127 countries, including India and Pakistan.Nonetheless JP...
(Bloomberg) -- Huawei Technologies Co. warned the latest U.S. curbs on its business will inflict a “terrible price” on the global technology industry, inflaming tensions between Washington and Beijing while harming American interests.China’s largest technology company said it will be “significantly affected” by a Commerce Department decree barring any chipmaker using American equipment from supplying Huawei without U.S. government approval. That means companies like Taiwan Semiconductor Manufacturing Co. and its rivals will have to cut off the Chinese company unless they get waivers -- effectively severing Huawei’s access to cutting-edge silicon it needs for smartphones and networking gear.Washington’s decision drew condemnation from Beijing, which regards Huawei as a national champion because of its success in dominating global networking technology. China and Huawei have threatened retaliation but Rotating Chairman Guo Ping on Monday refrained from commenting on a possible Beijing response -- a departure from just two months ago when the company...
(Bloomberg) -- Gold extended its rally to a fresh seven-year high after the Federal Reserve warned of potential asset-price declines as an economic recovery could stretch through until the end of next year. Palladium jumped.Haven demand for bullion is being supported by dismal economic data and fears over new infections, even as investors are encouraged by businesses reopening across major economies.Gold’s recent breakout raised prospects that it could set an all-time high soon as massive stimulus measures push holdings in bullion-backed exchange-traded funds to a record. The market is also being driven by speculation that U.S. interest rates could go negative and increased tensions with China.“The recovery is probably set to be more problematic than the optimists think, with gold set to benefit from the enormous boost to money supply that is going to ensue,” said Gavin Wendt, a senior resource analyst at MineLife Pty.Spot gold rose for a fifth day,...
