The remdesivir market consists of sales of remdesivir drugs currently found effective in treating the COVID-19 disease. Remdesivir (RDV) is one of the promising drugs used currently for the treatment of the COVID19 disease. Gilead, the US drug manufacturer is expanding its Remdesivir production due to the high demand for this drug. RDV is a synthetic compound throughout the class of antiviral drugs that target RNA synthesis.
Gilead`s antiviral remdesivir is being tested in multiple phase 3 clinical trials as a treatment for moderately and severely ill COVID-19 patients. Until January, the company wasn’t manufacturing more than a few doses of its experimental antiviral remdesivir, but currently, Gilead began advancing remdesivir and is rapidly expanding its production as the research showed that remdesivir might be effective against COVID-19. Gilead spent $50 million on research and development of the drug during the first quarter. The company expects to produce more than 140,000 rounds of its 10-day treatment regimen by the end of May. Gilead released preliminary results from its clinical trial on remdesivir, showing at least 50% of the patients treated with a five-day dosage of the drug have improved. The clinical trial involved 397 patients with severe cases of COVID-19. Gilead will focus on making remdesivir both accessible and affordable to governments and patients around the world. Taking into consideration the R&D investment, and the affordable price range, the drug is expected to generate an estimated $2 billion in sales in 2020. It is expected to grow at 29.02% and reach $4.2 billion in 2023. The revenue will then drop off in subsequent years.
