Gilead to withdraw Orphan Drug tag for remdesivir; shares down 3%

Mar. 25, 2020 1:24 PM ETGilead Sciences, Inc. (GILD)GILDBy: Douglas W. House, SA News Editor211 Comments
  • Gilead Sciences (GILD -3.1%) has submitted a request to the FDA to rescind Orphan Drug status for antiviral remdesivir for COVID-19, a designation granted by the agency only two days ago.
  • The company says it can maintain an expedited timeline for regulatory review without the designation which is intended to apply for diseases affecting no more than 200K Americans.
  • According to Johns Hopkins Case Tracker, confirmed U.S. coronavirus cases now total 55,568 (+8,763 from yesterday).
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