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Gilead Sciences [NASDAQ: GILD] Signs €63M Contract With EC For Remdesivir

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Gilead Sciences, Inc. [NASDAQ: GILD] has entered into a €63M agreement with European Commission for Remdesivir. The finance of Emergency Support Instrument of the European Commission will help to treat 30,000 patients with severe COVID-19 symptoms.

European Commission aimed to secure doses of Veklury, the brand name of remdesivir. It is the first medicine that has received authorization at the EU level for the treatment of novel COVID-19. Gilead Sciences will expect to provide the batches of remdesivir to the Member States and the UK with the help of the Commission from August onwards.

Gilead Sciences shares had tumbled down 1.09% at $73.73 during the trading of Tuesday. It has a day low and day high range of $73.61-$75.04, respectively. Gilead Sciences has a total market capitalization of 94.90 billion.

In the past 52-weeks of trading, its stocks have fluctuated between the low of $60.89 and a high of $85.97. If we look at its profitability, its return on assets (ROA) is 8.10%, return on investment (ROI) is 9.50% and return on equity (ROE) is 22.60%.

It has recorded a trading volume of 5.48 million as compared to the average volume of 12.03 million. If we turn our focus on liquidity, it has a quick ratio of 2.90 and a current ratio of 3.00. Its market capitalization is 94.90 billion.

The Commission is also preparing for joint procuement for further supplies of medicine from October onwards which will cover all the additional needs.

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