According to SVB Leerink analyst Geoffrey Porges, remdesivir price is likely to be ,000 per course in the US, ,000 per course in Europe, and around ,000 in other markets. Gilead Sciences (GILD) stock keeps rising.Gilead Sciences Inc (NASDAQ: GILD) has been significantly progressing in fighting COVID-19 with remdesivir. While the biotech giant is planning on distributing the drug, analysts are estimation how much it will receive in revenue. According to SVB Leerink, with remdesivir sales, Gilead will generate annual peak revenue of .7 billion in 2022.Gilead stock ended in the green yesterday, 1.56% up at .40 per share. But in early trading today, it is slightly down. By the moment of writing, GILD stock lost 0.25% to reach .21. Its market cap is .325 billion, the annual
Topics:
<title> considers the following as important:
This could be interesting, too:
Wayne Jones writes Charles Schwab to Launch Spot Crypto ETFs if Regulations Change
Wayne Jones writes Here’s When FTX Expects to Start Repaying Customers .5B
Dimitar Dzhondzhorov writes Is Cryptoqueen Ruja Ignatova Alive and Hiding in South Africa? (Report)
Wayne Jones writes Casa CEO Exposes Shocking Phishing Scam Targeting Wealthy Crypto Users
According to SVB Leerink analyst Geoffrey Porges, remdesivir price is likely to be $5,000 per course in the US, $4,000 per course in Europe, and around $2,000 in other markets. Gilead Sciences (GILD) stock keeps rising.
Gilead Sciences Inc (NASDAQ: GILD) has been significantly progressing in fighting COVID-19 with remdesivir. While the biotech giant is planning on distributing the drug, analysts are estimation how much it will receive in revenue. According to SVB Leerink, with remdesivir sales, Gilead will generate annual peak revenue of $7.7 billion in 2022.
Gilead stock ended in the green yesterday, 1.56% up at $74.40 per share. But in early trading today, it is slightly down. By the moment of writing, GILD stock lost 0.25% to reach $74.21. Its market cap is $93.325 billion, the annual stock change is 14.50%.
According to analysts’ consensus price target of $79.31, Gilead Sciences has a potential upside of 6.6% from its current price. Besides, Zacks Investment Research analysts believe that positive trends GILD stock demonstrated in Q1 will continue in the second quarter.
Other stock market news can be found here.
Remdesivir Distribution and Sales
Gilead’s remdesivir has shown effectiveness in COVID-19 patients in clinical trials. It received authorization for use under an Emergency Use Authorization (EUA) in severely ill patients in the United States, India, and South Korea. Besides, it has got approval from the Japanese government to be used in the fight with COVID-19.
Gilead Sciences has lately been looking for manufacturing partners to boost remdesivir production. The company said it would supply remdesivir to 127 countries, not including the U.S. To distribute the drug, the company signed non-exclusive voluntary licensing agreements with five generic pharmaceutical manufacturers in India and Pakistan. The agreements followed WHO’s announcement about the necessity to make the drug widely available.
By the end of this year, Gilead Sciences is going to manufacture 1 million doses of remdesivir. In 2021, this number is expected to be several million.
The price of remdesivir is not yet clear. As Boston-based Institute for Clinical and Economic Review speculated, remdesivir would cost $4,500 per U.S. treatment course for 10 days. According to SVB Leerink analyst Geoffrey Porges, the drug’s price is likely to be $5,000 per course in the US, $4,000 per course in Europe, and around $2,000 in other markets.
Geoffrey Porges has also made a prognosis on the revenue Gilead will generate from remdesivir sales. He said that commercial sales of the drug would bring nearly $7.7 billion in annual sales by 2022.
Porges wrote:
“With these additional opportunities, we believe a valuation of $94+ is realistic, perhaps as soon as the company declares its price for commercial sale of remdesivir.”
He added:
“We do forecast gradual adoption of vaccination, but in our view, that is unlikely to stop government stockpiling of remdesivir.”
Earlier, SunTrust Robinson Humphrey predicted global remdesivir sales to total $3 billion by 2022.
Daria is an economic student interested in the development of modern technologies. She is eager to know as much as possible about cryptos as she believes they can change our view on finance and the world in general.