(Bloomberg) --
The European Union reached an agreement with Gilead Sciences Inc. for supplies of the company's antiviral drug remdesivir to combat the coronavirus.
The European Commission signed a 63 million-euro ($74 million) contract with Gilead for batches of Veklury -- the brand name for remdesivir -- to be made available to EU countries and the U.K. starting in early August.
The deal will ensure the treatment of around 30,000 patients with “severe” Covid-19 symptoms, the commission, the 27-nation EU's executive arm, said in an emailed statement on Wednesday in Brussels. The commission also said it's preparing a joint procurement for further supplies of the medicine to cover extra needs as of October.
EU, Sanofi Talks on Covid-19 Vaccine Aim for Supply Next Year
“The commission is leaving no stone unturned in its efforts to secure access to safe and efficient treatments,” EU Health Commissioner Stella Kyriakides said in the statement.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
