Healthcare Roundup – Gilead’s remdesivir wins orphan drug status for coronavirus, New York launches use of malaria drug to treat Covid-19

吉利德 瑞德昔韦 COVID-19 新冠病毒 疟疾药物
Published on: March 23, 2020
Author: Amy Liu

Gilead’s remdesivir wins orphan drug status for coronavirus

As expected , the FDA designates Gilead Sciences’ (NASDAQ:GILD) remdesivir an Orphan Drug for the treatment of COVID-19. Among the benefits of Orphan Drug status in the U.S. is a seven-year period of market exclusivity for the indication, if approved.

Remdesivir (GS-5734), a nucleotide prodrug that blocks a key enzyme needed for viral replication, is also being developed for Ebola virus disease.

Shares up 2% after hours

New York launches use of malaria drug to treat Covid-19

Starting tomorrow, March 24, the State of New of New York will begin treating COVID-19 sufferers with the combination of malaria drug hydroxychloroquine and antibiotic azithromycin.

Other states will be quickly follow considering the supply of the malaria med (Teva donated 6M doses and generic firms are ramping up production) and its longevity on the market.

Adma Biologics adds to coronavirus-stocked rally, up 48%

ADMA Biologics (ADMA +48%) is up on almost a 5x surge in volume. Shares have rallied almost 128% since touching $1.45 on March 18.

Investors appear bullish on the company’s hyperimmune Asceniv (immune globulin intravenous, human – sira) 10% liquid, approved by the FDA about a year ago for the treatment of primary humoral immunodeficiency disease, for the potential treatment of COVID-19.

During the company’s Q4 earnings call on March 12, CEO Adam Grossman said that, although it would take 7-12 months to produce a batch from COVID-19 survivors, Asceniv has high titers of antibodies to a coronavirus called HCoV-OC43 which cross-reacts with SARS-CoV-2, adding that it is doing its best to “gain attention” from U.S. health authorities on its potential use in the current outbreak.

UnitedHealth Group trying to limit Covid-19 exposure – Credit Suisse

After a recent check-in with management, Credit Suisse (Outperform/$330) reports that UnitedHealth Group (UNH -5.2%) is not able to accurately assess the financial impact of the COVID-19 outbreak since it has not had enough claims experience yet.

Anecdotal evidence points to drops in elective surgeries, doctor office visits and outpatient rehab visits, but the company believes that it is too early to determine the overall impact on medical costs.

It has mitigated some of its exposure via capitation, about half through OptumCare.

Its Surgical Care Affiliates unit will likely experience headwinds in light of the deferrals of elective surgeries.

2020 guidance remains as is for the time being.

Aytu Bio to distribute Covid-19 IgG/IgM Rapid Test; shares up 15% premarket

Aytu BioScience (NASDAQ:AYTU) has received confirmation from the FDA to begin distribution of its COVID-2019 IgG/IgM Rapid Test throughout the U.S. The test is intended for professional use and delivers results between 2 and 10 minutes at the point-of-care.

The company expects delivery of its first shipment of 100,000 tests this week.

This point-of-care test has been validated in a 126 patient clinical trial and is CE marked.

Shares are up 14% premarket.

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