12:31 PM · 13 May 2020

Gilead Sciences signed a deal for remdesivir.

Gilead Sciences (GILD.US) announced that it had struck a licensing agreement to produce the antiviral drug remdesivir in 127 countries, not including the US. The company’s will work with five generic drugmakers to produce the potential drug for coronavirus. Among them is Mylan (MYL.US), which is the world's largest producer of generic drugs.

Gilead Sciences (GILD.US) shares rose 1.96% in pre-market trading. If positive mood persists, then resistance at $86.16 per share may be tested. Source: xStation5

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