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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Gilead Sciences, Inc.    GILD

GILEAD SCIENCES, INC.

(GILD)
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Eli Lilly's drug cuts COVID-19 recovery time in remdesivir-combo study

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09/14/2020 | 12:51pm EDT
The logo of Lilly is seen on a wall of the Lilly France company unit, part of the Eli Lilly and Co drugmaker group, in Fegersheim near Strasbourg

Eli Lilly and Co said on Monday its rheumatoid arthritis drug shortened the time to recovery in hospitalized COVID-19 patients when used along with Gilead Sciences Inc's remdesivir.

The drug baricitinib, branded as Olumiant, cut the median recovery time by about a day when added to remdesivir, compared to patients treated with the antiviral alone, Lilly said.

Remdesivir was granted an emergency use authorization (EUA) in May after trial data showed it helped shorten hospital recovery time by 31%.

Lilly said it plans to discuss the potential for an EAU for baricitinib with the U.S. Food and Drug Administration, based on the results from the trial, which tested more than 1,000 patients.

"As an already approved and available drug, we believe baricitinib could serve as an important additional treatment option as the medical community continues to learn how to best manage patients hospitalized with COVID-19," said Mizuho analyst Vamil Divan.

The drug, licensed by Lilly from Incyte Corp, could help suppress a potentially lethal immune response to COVID-19 called "cytokine storm".

U.S. hospitals have turned down about a third of their allocated supplies of remdesivir since July as need for the costly drug wanes, the Department of Health and Human Services (HHS) confirmed on Friday.

Remdesivir costs $3,120 for a six-vial course.

Eli Lilly in June also began a late-stage study to test baricitinib as a monotherapy in hospitalized patients across the United States, Europe, Asia and Latin America.

By Manas Mishra


Stocks mentioned in the article
ChangeLast1st jan.
ELI LILLY AND COMPANY -2.27% 142.8 Delayed Quote.11.18%
GILEAD SCIENCES, INC. -2.31% 60.57 Delayed Quote.-4.59%
INCYTE CORPORATION -3.17% 87.76 Delayed Quote.3.79%
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Financials (USD)
Sales 2020 24 074 M - -
Net income 2020 2 180 M - -
Net Debt 2020 3 105 M - -
P/E ratio 2020 38,5x
Yield 2020 4,33%
Capitalization 77 731 M 77 731 M -
EV / Sales 2020 3,36x
EV / Sales 2021 3,36x
Nbr of Employees 11 800
Free-Float 99,6%
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 78,29 $
Last Close Price 62,00 $
Spread / Highest target 69,4%
Spread / Average Target 26,3%
Spread / Lowest Target -8,06%
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NameTitle
Daniel P. O'Day Chairman & Chief Executive Officer
Andrew D. Dickinson Chief Financial Officer
William A. Lee Executive Vice President-Research
Merdad V. Parsey Chief Medical Officer
George Pratt Shultz Director-Emeritus
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