Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

GILEAD SCIENCES, INC.

(GILD)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Drugmakers see long road ahead in coronavirus vaccine race

02/05/2020 | 09:14pm EDT
FILE PHOTO: U.S. health officials hold news conference to discuss coronavirus outbreak at the Health and Human Services Department in Washington

Drugmakers racing to find a vaccine or effective treatment for the deadly new coronavirus in China cautioned that they have a long way to go.

That runs counter to reports of a supposed "breakthrough" that on Wednesday boosted financial markets and spurred optimism not necessarily backed by reality.

At least a dozen drugmakers are working on vaccines or antivirals and other treatments to help those infected with the fast-spreading contagion.

Investment costs for vaccines could run as high as $800 million in a process that, even if accelerated, will likely take more than a year until approval, according to executives from companies involved in the effort.

"It will take at least 12 to 18 months, which means in the acute situation we are in now - at least in China - that will not create a benefit," said Thomas Breuer, chief medical officer of GlaxoSmithKline vaccine unit. GSK is working with developers by providing a technology that could make their vaccines more potent.

The virus, which emerged in December in China, has killed nearly 500 people and shows no sign of abating, with thousands of new cases reported each day, mostly in central China's Hubei province. But its spread to some 27 countries and regions has caused global alarm.

To be sure, companies developing treatments for patients who are already sick may be able to get a drug approved faster than a vaccine that would be given to healthy people. Even so, logistical and regulatory challenges remain, according to two executives at Gilead Sciences Inc, which is working on an experimental antiviral treatment.

"There is a distinction there between a therapeutic and a vaccine. Having said that, I think it is true that this won't be super fast and it will involve us investing at risk right now," said Gilead Chief Medical Officer Merdad Parsey.

Clinical trials for treatments can be smaller and of shorter duration than for vaccines, Parsey acknowledged.

Challenges in making sure therapies are effective and then scaling up production still remain. Gilead has only a limited supply of its remdesivir, which will be tested against the coronavirus after previously failing in trials as a treatment for Ebola.

'LOOKING FOR A MAGIC BULLET'

Dr. Thomas Frieden, who was director of the U.S. Centers for Disease Control and Prevention during the also deadly MERS outbreak, said the benefit of antiviral treatments for such emergencies in the past has been modest.

What worked with MERS and SARS, for example, was better infection control in healthcare facilities, he said of two other types of coronaviruses that also caused global alarm.

"It doesn't mean we shouldn't try, but we're often looking for a magic bullet and the bright shiny object. Sometimes we need to just have the basics," Frieden said.

A Chinese TV report on Wednesday said that a research team at Zhejiang University had found an effective drug for the virus, while researchers in the UK told Sky News separately they had made a "significant breakthrough" in finding a vaccine.

Reuters could not independently verify the reports, but several traders cited them for sharp upticks in global stock markets.

"There are no known effective therapeutics against this 2019-nCoV," said World Health Organization spokesman Tarik Jasarevic, using the current designation for the new coronavirus, when asked about reports of "drug breakthroughs."

Health officials in the United States and China have set ambitious goals for getting a vaccine to initial human testing within the next few months.

Newer vaccine platforms, such as one developed by Moderna Inc, allow scientists to create a potential vaccine in record time just based on knowing the genetic code of the novel coronavirus. With the genetic code in hand, scientists can start vaccine development without needing a sample of the virus.

Anthony Fauci, director of the U.S. National Institutes of Allergy and Infectious Diseases, which is using Moderna's platform, said the agency is on the fastest pace ever to develop a vaccine candidate.

He hopes to have a vaccine available for initial safety testing within two and a half to three months from the time scientists determined the genetic sequence of the virus.

Novavax Inc research chief Gregory Glenn told Reuters his company has taken vaccines from discovery to clinical testing in 90 days and believes it could do something similar for the new coronavirus.

But to move vaccine candidates from the lab to widespread use in patients involves a number of hurdles, according to health experts and executives for drugmakers working on coronavirus vaccines and treatments.

In addition to scaling up manufacturing capacity and building distribution networks, there are regulatory hurdles such as conducting large clinical trials to make sure a vaccine not only confers immunity to the virus but is safe for use in the general population.

"The earliest you could even know if it's going to work is a year," Fauci said.

Whether even a highly effective vaccine will prove profitable for companies is another big question.

"The outbreak could be abating by the time a vaccine is deemed safe," Karen Andersen, who follows biotech companies for Morningstar, said in a research note.

The Coalition for Epidemic Preparedness Innovations (CEPI) has raised around $800 million from donors to aid in preventing pandemic diseases and has allocated some of those funds to biotechs, including Inovio Pharmaceuticals Inc, Moderna Inc and CureVac, which are working on coronavirus vaccines.

"We stepped into this with no economic expectation," said Paul Stoffels, Johnson & Johnson's chief scientific officer. "We'll see whether in the end it gives a reward."

(Reporting by Carl O'Donnell and Michael Erman in New York; additional reporting by Julia Steenhuysen in Chicago; Editing by Bill Berkrot)

By Carl O'Donnell and Michael Erman


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 0.00% 1.075 End-of-day quote.-31.09%
BYD COMPANY LIMITED -6.34% 204 End-of-day quote.0.39%
DISCOVERY, INC. -1.74% 28.83 Delayed Quote.-4.19%
GILEAD SCIENCES, INC. 0.26% 68.93 Delayed Quote.18.01%
GLAXOSMITHKLINE PLC -0.04% 1399.2 Delayed Quote.4.26%
INOVIO PHARMACEUTICALS, INC. -0.24% 8.26 Delayed Quote.-6.44%
JOHNSON & JOHNSON 0.46% 172.66 Delayed Quote.9.21%
MODERNA, INC. -2.19% 328.5 Delayed Quote.214.44%
MORNINGSTAR, INC. -1.31% 244.27 Delayed Quote.6.88%
NOVAVAX, INC. -7.42% 179.01 Delayed Quote.73.40%
SYNEOS HEALTH, INC. 0.70% 87.86 Delayed Quote.28.06%
TEAM, INC. -6.68% 5.45 Delayed Quote.-50.00%
All news about GILEAD SCIENCES, INC.
04:52pINSIDER TRENDS : Insider at Gilead Sciences Acquires Stock Via Option/Derivative..
MT
07/21GILEAD SCIENCES : Statement on Positive Phase 3 AMBITION Study Findings for the ..
PU
07/20BIONTECH : to Acquire Kite's Neoantigen TCR Cell Therapy R&D Platform and Manufa..
AQ
07/20ARCUS BIOSCIENCES : Chief Medical Officer Resigns to Join Gilead's Oncology Team
MT
07/20PRESS RELEASE : Japan becomes first country to approve Ronapreve (casirivimab an..
DJ
07/19ADRs End Lower; Toyota, BioNTech Among Companies Actively Trading
DJ
07/19Health Care Down Amid Defensive Bias -- Health Care Roundup
DJ
07/19GILEAD SCIENCES : BioNTech to Buy Gilead Sciences Unit's Cell Therapy R&D Platfo..
MT
07/19GILEAD SCIENCES : New Phase 3 Data Support the Sustained, Long-Acting Efficacy o..
AQ
07/19GILEAD SCIENCES : Four-Year Biktarvy Data Presented at IAS 2021 Demonstrate High..
AQ
More news
Financials (USD)
Sales 2021 24 671 M - -
Net income 2021 6 917 M - -
Net Debt 2021 21 993 M - -
P/E ratio 2021 13,0x
Yield 2021 4,11%
Capitalization 86 451 M 86 451 M -
EV / Sales 2021 4,40x
EV / Sales 2022 4,34x
Nbr of Employees 13 600
Free-Float 99,9%
Chart GILEAD SCIENCES, INC.
Duration : Period :
Gilead Sciences, Inc. Technical Analysis Chart | GILD | US3755581036 | MarketScreener
Technical analysis trends GILEAD SCIENCES, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 68,75 $
Average target price 75,07 $
Spread / Average Target 9,19%
EPS Revisions
Managers and Directors
Daniel P. O'Day Chairman & Chief Executive Officer
Andrew D. Dickinson Chief Financial Officer
Merdad V. Parsey Chief Medical Officer
Flavius Martin Executive Vice President-Research
Brett A. Pletcher Secretary, Chief Compliance Officer & Executive VP
Sector and Competitors
1st jan.Capi. (M$)
GILEAD SCIENCES, INC.18.01%86 563
BIONTECH SE251.15%69 138
WUXI APPTEC CO., LTD.28.80%67 035
REGENERON PHARMACEUTICALS19.60%59 833
VERTEX PHARMACEUTICALS-15.83%51 496
GENMAB A/S13.72%29 074