Is Gilead Sciences a Good Coronavirus Stock to Buy?
In September, the Centers for Disease Control and Prevention predicted that by the third quarter of next year, enough vaccines will be available for the coronavirus that Americans should start to be able to return to their normal lives. But that doesn't mean that COVID-19 will be gone by then. And the estimate could change depending on spikes in cases -- and on whether companies developing vaccines run into problems along the way.
That's why investing in coronavirus stocks could still be a good move for investors today. Any company that's busy as a result of COVID-19 is likely to remain that way for the foreseeable future. And one of those companies is drugmaker Gilead Sciences (NASDAQ: GILD). Let's look at whether its stock is a good investment during the pandemic.
Treating patients who have COVID-19 will be necessary until the disease is gone. And Gilead's drug remdesivir was one of the early treatment options that medical experts were excited about. On May 1, the U.S. Food and Drug Administration (FDA) granted emergency use authorization (EUA) to remdesivir for use in patients with severe COVID-19 (where blood oxygen is low or a ventilator is needed). Nearly four months later, on Aug. 28, the FDA expanded that authorization to include all patients who are in hospitals due to COVID-19.
Source Fool.com
