NYT, "FDA Plans Emergency Use Authorization for Remdesivir"

[Image source=AP Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] The U.S. Food and Drug Administration (FDA) plans to grant emergency use authorization for remdesivir, a highly anticipated treatment for COVID-19, according to U.S. media reports. This news has significantly raised expectations for the development of COVID-19 treatments and influenced the rise of the New York stock market.

The New York Times (NYT) reported on the 29th (local time) that the FDA is planning to grant emergency use authorization for remdesivir and may announce it as early as that day. If emergency use authorization is granted, doctors will be able to use remdesivir to treat COVID-19 patients before official approval is finalized. Gilead Sciences, the developer of remdesivir, also released a statement on the same day, announcing that the clinical trial results for remdesivir were successful.

The Washington Post (WP) reported that the National Institute of Allergy and Infectious Diseases (NIAID) also gave a positive evaluation of remdesivir. Anthony Fauci, director of NIAID, said regarding the initial clinical trial results of remdesivir, "It is clearly positive," adding, "We found that treatment with remdesivir speeds up recovery by 31%." He continued, "While 31% may not seem like 100%, it is a very important result. It proves that this virus can be stopped by a treatment, and remdesivir will become the standard treatment."

Expectations for remdesivir had a significant impact on the rise of the three major indices of the New York stock market. On that day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average surged by 532.31 points (2.21%) from the previous close to finish at 24,633.86. The Standard & Poor's (S&P) 500 index rose 76.12 points (2.66%) to 2,939.51, and the Nasdaq index closed up 306.98 points (3.57%) at 8,914.71.

This content was produced with the assistance of AI translation services.