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OFFON

GILEAD SCIENCES, INC.

(GILD)
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REFILE-UPDATE 1-Merck taps five Indian drugmakers to expand COVID-19 drug production

04/27/2021 | 07:26am EDT

April 27 (Reuters) - Merck & Co Inc said on Tuesday it had partnered with five Indian generic drugmakers, including Cipla Ltd and Sun Pharmaceutical Industries Ltd , to expand production and access to its experimental COVID-19 drug.

The partnership will give the companies license to supply Merck's molnupiravir to India and more than 100 low- and middle-income countries following approvals or emergency authorization by local regulatory agencies, Merck said.

Merck said the move is to help address the raging new wave of COVID-19 in India, which has reported more than 300,000 new COVID-19 cases per day over the past six days.

Drugmaker Gilead Sciences Inc on Monday said it will give India at least 450,000 vials of its antiviral drug, remdesivir, and help boost production in the country.

Merck's non-exclusive production pacts for molnupiravir are with companies including Dr.Reddy's Laboratories Ltd and privately held companies Emcure Pharmaceuticals Ltd and Hetero Labs Ltd.

Molnupiravir is an antiviral therapy Merck is developing with Ridgeback Biotherapeutics for the treatment of non-hospitalized COVID-19 patients.

Merck has decided to focus on its drugs for COVID-19 after two vaccines failed to generate desired immune responses, prompting it to abandon the program in January.

(Reporting by Manojna Maddipatla in Bengaluru; Editing by Ramakrishnan M. And Shinjini Ganguli)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CIPLA LIMITED 1.05% 960.9 Delayed Quote.17.19%
DR. REDDY'S LABORATORIES LIMITED -0.07% 5284.6 End-of-day quote.1.55%
GILEAD SCIENCES, INC. -0.91% 66.61 Delayed Quote.14.33%
SUN PHARMACEUTICAL INDUSTRIES LIMITED 0.52% 668.5 Delayed Quote.12.86%
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Financials (USD)
Sales 2021 24 680 M - -
Net income 2021 6 885 M - -
Net Debt 2021 21 984 M - -
P/E ratio 2021 12,6x
Yield 2021 4,22%
Capitalization 83 541 M 83 541 M -
EV / Sales 2021 4,28x
EV / Sales 2022 4,23x
Nbr of Employees 13 600
Free-Float 99,9%
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Gilead Sciences, Inc. Technical Analysis Chart | GILD | US3755581036 | MarketScreener
Technical analysis trends GILEAD SCIENCES, INC.
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 75,15 $
Last Close Price 66,61 $
Spread / Highest target 50,1%
Spread / Average Target 12,8%
Spread / Lowest Target -9,92%
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Managers and Directors
NameTitle
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
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