Gilead Sciences maker of Remdesivir that failed in drug trials with disappointing results has called the report inconclusive and did not agree with it.
Remdesivir is just one of the drugs along with chloroquine and hydroxychloroquine that have posted less than stellar results in drug trials. Many were initially used in China with limited efficacy.
One of the companies Gilead put their full backing on a drug that ultimately failed on many occasions, most of the evidence for pursuing them for trials were all anecdotal.
After the draft document was released, Gilead did not agree and was still convinced of its efficacy.
On Thursday, the biotech firm fell a hard 4% in the trading, according to the Financial Times made a report that their touted cure Remdesivir had not helped COVID-19 patients get better, or lessen the viral content in the bloodstream, based on a clinical trial in China.
The WHO published proof that remdesivir was effective. This report in question was a draft and should not be published. Hence, it was removed from their site disavowing any knowledge of its publishing.
What was mentioned in the report that is not mentioned in trials was serious side effects that prompted doctors to get patient's off it, or it implied that it was significantly dangerous to keep them on it.
Gilead expressed dissatisfaction over a report based on empirical findings.
Gilead issued this statement,"We regret that the WHO prematurely posted information regarding the study, which has since been removed. The investigators in this study did not provide permission for publication of results," a Gilead spokesperson said in a statement to CNBC."
The information on the document should have been withheld since the data will affect the status of the trials.
"Furthermore, we believe the post included inappropriate characterizations of the study. Importantly, because this study was terminated early due to low enrollment, it was underpowered to enable statistically meaningful conclusions," Gilead further said.
Researchers at Gilead stress the word inconclusive and cites the potential benefit (there were severe side effects) of a drug that was not deemed effective to greenlight. Gilead was not even able to get orphan drug status.
Bottom line, there are no effective therapies yet, Remdesivir is a repurposed drug. It will take 12 to 18 months to reach a cure, but others like Gilead want to jump the gun and get their cure first. As of now, there are too many drugs on trial but none seems to be a suitable therapy.
Examples of Gilead's evidence is isolated in the University of Chicago which found that COVID-19 patient got better from fever and respiratory problems. The patients were discharged in a week, this was according to Stat News.
Gilead the maker of Remdesivir is banking on the success of their touted coronavirus cure to get shares up, however, negative news tends to pull shares down.
Mike Bailey, director of research at FBB Capital Partners and a former health-care analyst at Stifel stressed about the good news on the virus to get more investors not lose them due to negative results.
Both Moderna and Gilead were in the starting trials but nothing more than anecdotal evidence is cited.
Revelations by WHO even by accident that Remdesivir failed in drug trials is a big thing to consider if it will work at all.
Related article : Chloroquine Causes Lethal Poisoning in Nigeria, Death of Man in Arizona
