The Food and Drug Administration on Thursday approved remdesivir as a remedy for patients hospitalized with coronavirus, Gilead Sciences said, making it the first FDA-approved drug for Covid-19.
In the past, the drug had obtained an emergency use authorization in May, allowing health care providers to administer the remedy in limited circumstances.
Gilead’s shares rose 3. 8% hours after the announcement.
“It’s amazing to be able today, less than a year since the first disease case reports now known as COVID-19, to have an FDA-approved remedy in the United States that is available to all the right patients who need it,” Daniel O’Day, Gilead’s CEO, said in a statement.
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I’m a San Francisco-based journalist, the latest news in Forbes. I have already reported for USA Today, Business Insider, The San Francisco Business Times and San
I’m a San Francisco-based journalist covering the latest news in Forbes. In the past I worked for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s SINewhouse Public School. He was an editor at the Daily Orange, the university’s independent student newspaper. Follow me on Twitter @rachsandl or email me rsandler@forbes. com.