Gilead Sciences (GILD) has revealed that its remdesivir Covid-19 treatment will be available to patients early this week. Remdesivir, a direct acting antiviral drug that inhibits viral RNA synthesis, received emergency FDA approval on May 1.“We intend to get [remdesivir] to patients in the early part of this next week, beginning to work with the government which will determine which cities are most vulnerable and where the patients are that need this medicine,” Gilead Sciences CEO Daniel O’Day told CBS on Sunday. O’Day added: “We’ve donated the entire supply that we have within our supply chain and we did that because we acknowledge and recognize the human suffering, the human need here, and want to make sure nothing gets in the way of this getting to patients.”The donation has been provided to the US government, and they will decide where to send the treatment based on, for instance, the number of...
(Bloomberg) -- President Donald Trump raised the expected death toll in America from the virus to as many as 100,000. He promised a “conclusive” report from the U.S. government on the Chinese origins of the pandemic.Trump accused China of trying to cover up the outbreak and said tariffs would be “the ultimate punishment.” Gilead Sciences Inc. plans to get its antiviral drug to patients as soon as this week.In Asia, factory output in several countries slumped to record lows. Australia expects its population growth to halve next year as the virus spurs a collapse in migration. New Zealand reported no new cases for the first time since its March lockdown.Key DevelopmentsVirus Tracker: global cases pass 3.5 million; deaths top 247,000January? Autumn? Doctors debate arrival time for a vaccineChina trade deal turns into potential liability for TrumpMainland Chinese buyers shun Hong Kong propertyItalian leader faces revolt against lockdown exit planSubscribe to a...
Shares skidded in Asia on Monday as investors eyed rising tensions between the Trump administration and China over the origins and handling of the coronavirus pandemic. Facing criticism over his handling of the crisis, President Donald Trump has tried to shift the blame to China. Beijing has repeatedly pushed back on U.S. accusations that the outbreak was China’s fault....
(Bloomberg) -- Oil snapped a three-day gain as optimism over a nascent recovery in demand was replaced by worries about the supply glut, while the continued exodus of exchange-traded funds also weighed on sentiment.Futures in New York fell 3% to around $19 a barrel after their first weekly gain in a month that was driven by early signs of improving consumption and the start of production curbs. That positive tone was undercut, however, by a Bloomberg survey showing OPEC production surged by the most in almost 30 years in April as countries kept pumping even after reaching a price-war truce.Fears of a re-run of prices plunging below zero also deterred investors. The manager of a $500 million oil exchange-traded fund in Hong Kong said its broker refused to let it increase holdings of crude futures. S&P Global Inc., which is behind the most closely followed commodity index, said it will roll...
(Bloomberg) -- President Donald Trump raised the expected U.S. death toll from the virus to as many as 100,000 and promised more help for those put out of work.U.S. Secretary of State Michael Pompeo said there’s “enormous evidence” to show the pandemic began in a laboratory in Wuhan, China. Trump accused China of trying to cover up the outbreak and said tariffs would be “the ultimate punishment.”Russia reported more than 10,000 new cases, the highest number of the outbreak. Gilead Sciences Inc. plans to get its antiviral drug remdesivir to patients as soon as this week. Australia expects its population growth to halve next year as the virus spurs a collapse in migration.Key DevelopmentsVirus Tracker: global cases pass 3.5 million; deaths top 247,000China trade deal turns into potential liability for TrumpJapan to extend state of emergency until May 31January? Autumn? Doctors debate arrival time for a vaccineSubscribe to a daily update...
