Good morning, one and all. Damian Garde here, filling in for Ed Silverman in the waning hours of another summer work week. At least in this part of the world, gray skies have given way to sunshine, and the weekend promises weather pleasant enough to convince even the most ocean-averse among us to give the beach a chance. But until then there are deadlines, emails, and interminable video conferences to endure. Here, to help you get through it, are a few choice items of interest.
Sales of Gilead Sciences’ (GILD) remdesivir beat analysts’ expectations in the second quarter, totaling $829 million, Reuters notes. The drug’s surprising performance helped paper over declines in Gilead’s core business of selling HIV treatments, but the uncertain long-term demand for remdesivir, which is given to patients hospitalized with Covid-19, makes it difficult to predict how long the drug will be lucrative.
The U.K. levied roughly $140 million in fines against a pharma company and its former private equity owners after the firm inflated the price of its thyroid tablets by up to 6,000%, according to the Guardian. The nation’s Competition and Markets Authority found that Advanz Pharma, headquartered in London, took advantage of limited competition and steadily increased the price of a drug called liothyronine over the course of a decade, costing the National Health Service millions.
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