The pharma industry has put its weight behind Democratic presidential candidate Joe Biden, reversing a longstanding fundraising trend that has favored the GOP. Republican candidates have received 64% of pharma industry contributions since 1990, according to the Center for Responsive Politics’ Open Secrets. But the industry is shifting its support to Democrats in 2020. So far,…
Insitro raises $143m Series B
Machine-learning-driven drug discovery and development company Insitro announced today that it raised $143 million in an oversubscribed Series B financing round. San Francisco-based Insitro said in a news release that it plans to use the funds to build its foundations of technology and automation, enabling data generation at a larger scale, expanding its capabilities for…
Gilead licenses remdesivir production to 5 generic drugmakers
Gilead Sciences’ (NSDQ:GILD) said Tuesday that it has signed licensing agreements with five generic pharmaceutical manufacturers based in India and Pakistan to further expand supply of remdesivir, the experimental drug being used in the U.S. to treat COVID-19. The non-exclusive, voluntary agreements allow the companies — Mylan (NSDQ:MYL), Cipla, Ferozsons Laboratories, Hetero Labs and Jubilant Lifesciences — to manufacture remdesivir for distribution in 127…
BREAKING: FDA grants emergency use of drug to treat COVID-19
The FDA this afternoon issued an emergency use authorization for the investigational antiviral drug remdesivir to treat severely ill COVID-19 patients. The authorization for the drug, made by Gilead Sciences’ (NSDQ:GILD), will allow both adults and children to be treated with the remdesivir, the first drug believed to have any effect on the virus that has sickened…
Fauci: Hundreds of millions of COVID-19 vaccine doses could be ready in January
Dr. Anthony Fauci said this morning that hundreds of millions of doses of a vaccine for COVID-19 could be ready by January. In an interview on the Today Show, the director of the National Institute of Allergy and Infectious Diseases said that a vaccine candidate is in the first phase of a clinical trial. If the second…