Gilead Sciences, Inc. (NASDAQ:GILD) has been working for a long time on an experimental cocktail that is claimed to be good enough to treat HIV. After a series of discussions, Gilead Sciences got a green signal from European regulators a few days ago. With this positive response, the probability of this new HIV drug getting formal approval in European Commission has increased significantly.
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In an official announcement, the European Medicines Agency stated a favourable opinion on Descovy treatment, a combination of tenofovir alafenamide and emtricitabine. Both of these drugs can stop HIV from multiplying without any external treatment. Although Gilead has submitted its application to European Regulators, the approval of US Food And Drugs Administration is still pending.
It’s not the first time when Gilead Sciences has come up with something like that. Previously it launched a drug named Truvada, which is recommended by U.S. Centers for Disease Control and Prevention among a few others that can help prevent HIV infection.
As soon as the announcement about the approval of the new experimental drug was made by the company, its shares rose 1% in light premarket trading. Along with Gilead’s new drug, Europe’s drug regulator also approved psoriasis treatment from Eli Lilly & Co., and hemophilia treatments from CSL Ltd and Biogen Inc.
The senior management team of Gilead Sciences was delighted to receive a positive response from European regulator and hoped that its HIV treatment would soon be launched in Europe and the United States. Thousands of people die due to HIV across the globe. Gilead believes that there’s an urgent need for treatments that can get rid of HIV in a hassle-free manner, and its Descovy treatment is good enough for this purpose.
Going forward, it will continue to work on many more such projects, details of which will be announced from time to time by the company.