Remdesivir coronavirus treatment will need a 'sustainable model' to keep it accessible, Gilead CEO says [CNBC]
Gilead Sciences, Inc. (GILD)
Last gilead sciences, inc. earnings: 4/30 04:01 pm
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Source: CNBC
Gilead Sciences is working to make experimental antiviral drug remdesivir accessible and affordable to coronavirus patients, but the company will eventually need to transition to a more "sustainable model," CEO Daniel O'Day said Friday. "We understand our responsibility both to patients and also to shareholders and we'll be balancing that," he said during an interview with CNBC's " Squawk Box. " Gilead has said it is prepared to donate 1.5 million doses of its drug to patients hospitalized with Covid-19. However, O'Day said the research and manufacturing of the drug require investment. Gilead spent $50 million on the research and development of remdesivir during the first quarter, the company disclosed in its earnings report Thursday. The company said it will spend as much as $1 billion for the year. "There is no playbook for this situation that we're in today," he said. "This is the time for us all as an industry, especially Gilead, to do the right thing." Gilead shares, which have a
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