🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

EU buys more Remdesivir to treat 3,400 patients amid shortages

Published 07/10/2020, 12:50
Updated 07/10/2020, 13:45
© Reuters. FILE PHOTO: Gilead Sciences Inc pharmaceutical company is seen during the outbreak of the coronavirus disease (COVID-19), in California
GILD
-

By Francesco Guarascio

BRUSSELS (Reuters) - The European Commission said on Wednesday it had agreed with U.S. company Gilead (NASDAQ:GILD) to buy additional doses to treat about 3,400 patients of its COVID-19 drug Remdesivir, amid shortages of the medication in Europe.

The move comes as the bloc is under pressure to expand its limited stocks of the antiviral drug as COVID-19 cases and hospitalisations rise on the continent.

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

A spokesman for the EU executive said Brussels agreed with Gilead last Friday to supply nearly 20,300 additional doses "which help almost 3,400 patients" at a cost of 7 million euros (£6.4 million).

That is in addition to 30,000 courses of treatment it bought at the end of July and that were meant to cover Europe's needs in the months of August and September, when infections were at their lowest in Europe.

The additional supply could be enough to meet immediate needs for a week or two.

Spain, the country with the highest number of infections in Europe, had nearly 10,700 people hospitalised for COVID-19 as of Tuesday. In France, nearly 800 COVID-19 patients were in need of intensive care only in the last week of September.

Remdesivir is usually administered in Europe to severely ill patients. This week it has been given also to U.S. President Donald Trump after he tested positive for the virus.

Remdesivir and steroid dexamethasone are to date the only authorised drugs to treat COVID-19 in Europe.

NEW SUPPLY SOUGHT

The EU and Britain, with a combined population of 500 million, are negotiating a new contract with Gilead for the supply of additional doses of the antiviral medicine, the EU spokesman said.

European officials said an agreement could be reached shortly.

Gilead Chief Commercial Officer Johanna Mercier said on Tuesday the company expected by next week to be in a position to fulfil orders coming through Europe.

The additional doses acquired last week were being delivered to countries which needed it the most, the EU spokesman said, citing The Netherlands, Czech Republic, Greece, Austria, Denmark and Slovenia.

© Reuters. FILE PHOTO: The coronavirus disease (COVID-19) outbreak in Cairo

In the Netherlands, physicians were giving priority in administering the drug to the most ill patients, the Dutch health inspectorate said. Hospitals there were also redistributing Remdesivir where it was most needed within the country.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.