The first drug, chloroquine (sometimes called hydroxychloroquine), is commonly used around the world to treat malaria and arthritis and has shown promise in other countries to treat patients who have contracted the novel coronavirus. While it's been available for decades for malaria, it's not clear whether it will work against the new illness. The research has not yet been peer reviewed and published.
The FDA later reminded the public in a statement that there are "no FDA-approved therapeutics or drugs to treat, cure or prevent COVID-19".
"It could be a game-changer".
"A drug called chloroquine, and some people would add to it, hydroxy, Hydroxychloroquine, this is a common malaria drug". Tesla CEO Elon Musk seems to think so, also.
Gilead shares were up 1 per cent to US$80.19 at 2:57 p.m.in NY, after earlier rising as much as 8.2 per cent.
A total of 218 people have died in the U.S. due to the fast-spreading coronavirus pandemic, while there are 14,299 confirmed infected cases in the country.
On the medical front, Trump and Dr. Stephen Hahn, the Food and Drug Administration commissioner, described several existing drugs and treatments now under testing to see if they can help those with COVID-19.
"The therapies are something we can move on much faster, potentially". "We're also working with government and insurers to ensure that when new treatments and vaccines are approved, it will be available and affordable for patients", he said.
FDA commissioner Stephen Hahn then clarified that "remdesivir is going through the normal process" of clinical trials. The FDA is reviewing drugs that have already been approved overseas or in the USA for other uses.
Trump's national economic director Larry Kudlow, who is the U.S. pointman for the summit, informed his counterparts of the decision, Deere said in a statement.
"So it is those data that are going to inform the decisions that are ultimately made", Hahn said.
U.S. Treasury Secretary Steven Mnuchin also was not averse to the idea of the government taking equity stakes in exchange for the financial aid. But the growing number of coronavirus cases in the US, and the lack of any proven therapy or vaccine, may have tilted that balance. It was developed by Gilead.
"We've got very very encouraging early results".
Following strong resistance in Congress, Trump switched tack in December, saying he could use Camp David, a historic presidential retreat, instead. "Nobody's ever seen anything like this before", Trump said, even though his administration had conducted an assessment exercise previous year about dealing with a potential pandemic originating in China, according to The New York Times.
But as countries around the world shut their borders and ban travel to stop the spread of the coronavirus, the White House said Thursday (March 19) the G7 will switch to video for the foreseeable future. Birx said that even evidence a drug works in animals doesn't mean it will work in people.
As we reported yesterday night (New York Time), a new controlled clinical study conducted by doctors in France shows that Hydroxychloroquine is effective in the fight against coronavirus.
The vast majority of people recover from the new virus.