The recent novel coronavirus (COVID-19) outbreak, originating from China, is rampaging across the globe. According to the Worldometers, global coronavirus cases reached over 1.4 million with death toll around 83,000 as of 8th April 2020. With nearly 400,500 infected persons, the US is majorly affected due to the virus spread. The US followed by Spain and Italy with cases around 146,690 and 135,586 respectively as of 8th April 2020. With no vaccine in place, the governments of several nations have taken precautionary measures to lower the spread of the virus. The spread of the deadliest virus has forced the government of several nations to lock down streets, cities, and states of the country. Cinema halls, restaurants, cafeterias, pubs, bars, and other entertainment places have been shut down so as to keep people away from social distancing.
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On the other hand, several pharmaceutical players have begun to put efforts on the R&D of innovative drugs and vaccines for the treatment of COVID-19. As the commercialization of vaccines solely for the treatment of COVID-19 is seen too far from the outbreak date, numbers of research organizations are working with the World Health Organization (WHO) to conduct clinical trials of existing antiviral drugs to treat patients suffering from COVID-19. As an instance, the WHO has collaborated with the researchers in China to conduct clinical trials of existing antiviral medications to treat patients infected with COVID-19. In February 2020, trials have been launched in China to determine the efficacy and safety of existing antiviral therapies, namely nucleotide analog remdesivir and HIV combination therapy Kaletra (the combination of lopinavir and ritonavir). Nucleotide analog remdesivir is formulated by Gilead Sciences, Inc. which is already under development for Ebola, and the later drug is formulated by AbbVie Inc.
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China expects to have the first COVID-19 vaccine to be ready for clinical trials by the end of April 2020, as stated by the Xu Nanping, China’s vice-minister of science and technology. The US-based pharmaceutical firm Inovio Pharmaceuticals plans to begin clinical trials on a COVID-19 vaccine in April 2020. Moreover, on 19th March 2020, chloroquine and hydroxychloroquine drugs have been approved by the US Food and Drug Administration (FDA) for limited emergency use for the treatment for COVID-19. Government agencies are further planning to test other antiviral drugs for coronavirus treatment. Further, on 21st February 2020, Favilavir, an anti-viral drug, has been approved by the National Medical Products Administration of China as the treatment for coronavirus.
Market Segmentation
Product Type
- Drugs
- Vaccine
Organization Type
- Pharmaceutical Companies
- Research Organizations
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
