European Union Signs Agreement with Gilead for Supply of Remdesivir

The European Union has reached an agreement with Gilead Sciences Inc. regarding the supply of the company’s antiviral drug Remdesivir to combat the deadly COVID 19 pandemic in the countries of the bloc. The deal of 63 million euros ($74 million) has been signed for procurement of Veklury, the brand name for Remdesivir which is to be made available in all the EU countries and also the United Kingdom.

How will it help?

This agreement is going to ensure that the treatment of around 30000 patients with severe symptoms of COVID 19 within the 27 nations of the EU. Both sides are also preparing a joint procurement plan for further supplies of the medicine ton cover extra needs as of October 2020.

What is Remdesivir?

It is an antiviral drug first developed and used for the treatment of Ebola Virus in 2014. It is one of the methods of treatment for COVID 19 as per WHO’s Solidarity Trial. The replication of the virus is prevented in the body by using this drug. One vial of Remdesivir costs around Rs 10000-20000.

Month: Current Affairs - July, 2020