By Michael Dabaie

 

Pfizer Inc. said Friday it is in multi-year agreement with Gilead Sciences Inc. to manufacture remdesivir for treatment of Covid-19

Pfizer said the deal is to manufacture and supply Gilead's investigational antiviral remdesivir, as one of multiple external manufacturing organizations supporting efforts to scale up supply of the investigational treatment for Covid-19.

Pfizer will provide contract manufacturing services at its McPherson, Kan., facility.

"From the beginning it was clear that no one company or innovation would be able to bring an end to the COVID-19 crisis. Pfizer's agreement with Gilead is an excellent example of members of the innovation ecosystem working together to deliver medical solutions," said Pfizer Chief Executive Albert Bourla.

Gilead shares were up 1% premarket, to $69.47, while Pfizer shares were up 1%, to $38.60.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

August 07, 2020 09:01 ET (13:01 GMT)

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