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Biotech Stocks Facing FDA Decision In November 2020

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Introduction
Introduction

Veklury, known generically as remdesivir, developed by Gilead, became the first FDA-approved drug for COVID-19 on October 22 when the antiviral drug secured the regulatory agency’s official stamp of approval.

In May of this year, the drug was allowed for the treatment of COVID-19 through an emergency use authorization, which meant that the authorization was only temporary. After reviewing and rigorously assessing data from multiple clinical trials, the FDA has now turned the emergency use approval to full approval.

In June, the company had priced a five-day course of Veklury at $3,120 for insured patients in the U.S. and at $2,340 for the U.S. government and other developed countries.

It remains to be seen if there will be any changes to the price tag in the coming days.

Let’s take a look at the companies that await a ruling from the FDA in November.