Can Gilead Sciences (NASDAQ: GILD) make money from Coronavirus? — Market Mad House

Many investors think Gilead Sciences (NASDAQ: GILD) can make money from coronavirus.

To explain, Gilead’s focus is the development, manufacture, and commercialization of antiviral drugs. Obviously, COVID-19 is a virus, hence the term coronavirus.

Moreover, authorities in many countries authorize the use of Gilead’s remdesivir as a treatment for severe cases of the coronavirus. In fact, clinical trials show remdesivir can shorten recovery times for severe COV-19 cases, Yahoo! News claims.

Additionally, the European Commission has given preconditional (emergency) approval for remdesivir’s use as a coronavirus treatment in the European Union (EU). Notably, the European Commission is in talks with Gilead to supply remdesivir to 27 EU countries.

Mr. Market Likes Gilead Sciences

The Gilead Sciences Inc. (NASDAQ: GILD) share price rose from $65.23 on 2 January 2020 to $75.61 on 8 July 2020. Hence, Mr. Market thinks Gilead can profit from coronavirus, but what is Gilead Sciences?

Gilead develops and markets antivirals drugs that target specific viruses or symptoms of viruses. Unlike antibiotics, antivirals do not kill pathogens. Instead, antivirals suppress viruses by inhibiting their development.