Shares of Gilead Sciences Inc. (GILD) were down 1.2% in trading on Tuesday after the drugmaker listed on its website five generic drugmakers that will produce remdesivir, its experimental COVID-19 treatment. The non-exclusive voluntary licensing agreements are with Cipla Ltd. , Ferozsons Laboratories Ltd. , Hetero Labs Ltd., Jubilant Life Sciences Ltd. and Mylan (MYL), to manufacture remdesivir in 127 countries. The Food and Drug Administration recently granted an emergency authorization ( ) to remdesivir in the U.S. as a treatment for severely ill COVID-19 patients; it has also been approved in Japan. Neither nation is part of these manufacturing agreements. China, where the virus was first detected in 2019, also isn't listed. Gilead said the licenses will be considered royalty-free until one of two things happens: the World Health Organization lifts its public health emergency of international concern declaration, or another drug or vaccine is approved. Gilead's stock is up 22.8% year-to-date. The S&P 500 is down 9.3%.
-Jaimy Lee; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 12, 2020 14:55 ET (18:55 GMT)
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