@mark65z @Dr_Stoxx FDA granted $GILD "orphan" drug status for remdesivir as potential treatment for the COVID-19. The designation is generally reserved for drugs that treat rare illnesses affecting fewer than 200K Americans—but companies can be eligible if the designation, as in this case of a rapidly spreading virus, is made before a disease spreads beyond that limit. When "orphan" status was granted, the US had ~50K confirmed cases - currently, there are ~69K. Having secured orphan drug status, Gilead Sciences can now profit exclusively off the drug for 7 years & could block manufacturers from developing generic versions of the drug which might be more accessible to many patients. The company can set price controls on the drug as well as benefiting from grants and tax credits. cont'd...
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