Gilead Sciences

Agreement includes renewal and expansion of various IT services over next five years

American biopharmaceutical company Gilead has announced steps to expand the availability of remdesivir, a key therapeutic medicine used in the treatment of Covid-19 patients, in India

The deal will also include a potential future milestone payment of up to 300 million euros

The recommendation is a blow to Gilead's drug, which was one of the first thought to offer a meaningful benefit to coronavirus patients after a study showed it reduced their recovery time

Debate continues to rage in the medical industry about which drugs are best to treat Covid-19 patients

Emergency use authorisation to continue; recently, WHO had raised doubts about efficacy of drug in treatment of Covid-19 patients

Approval unlikely to increase prices immediately as Gilead has said licenses are royalty-free until the end of the health emergency

While Gilead calls for review, the findings can have significant impact on the growing demand of remdesivir

Several European countries have said they are experiencing shortages of the drug, whose global stock has been secured almost entirely by the United States

Multiple manufacturers confirmed that the liquid form of the injectable would shorten the manufacturing process

Gilead's actions enabled the Foster City, California-based drugmaker to boost revenue, ran from June 2007 to December 2010, and violated the federal False Claims Act

Gilead Sciences Inc will acquire biopharmaceutical company Immunomedics Inc for $21 billion, a move that will strengthen its cancer portfolio by gaining access to a promising drug