Ligand’s Captisol Technology Plays Key Role in the Manufacture of Gilead’s Veklury, the First FDA-Approved COVID-19 Treatment
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) today highlighted the company’s role in the manufacturing of Veklury (remdesivir), Gilead Sciences’ antiviral drug for the treatment of patients with COVID-19 requiring hospitalization. Veklury is formulated with Ligand’s Captisol technology. Approved yesterday by the U.S. Food and Drug Administration, Veklury is the first and only approved COVID-19 treatment in the United States. The drug is now widely available in hospitals across the country, following Gilead’s early investments to rapidly expand manufacturing capacity to increase supply.
“We congratulate Gilead on achieving this regulatory milestone,” said John Higgins, Chief Executive Officer of Ligand. “Veklury is an important medicine that has already played a vital role in the treatment of many patients with COVID-19 worldwide. In early January Gilead contacted Ligand requesting urgent shipments of Captisol. Over the following weeks and months, the Captisol volume requirements and supply needs expanded significantly, and Ligand has been there to support Gilead in their effort to manufacture millions of treatment courses. While the progression of the pandemic was and still is unknown, Ligand made the strategic and ethical decision to invest significantly in scale-up to ensure we had sufficient capacity to meet the Captisol supply needs for Gilead and members of its international manufacturing consortium. It has been an intense nine months executing on these efforts. We are proud of our contribution to this first and only U.S.-approved treatment for COVID-19, and we are equally proud of our ability to execute so efficiently and smoothly to answer the call.”
Higgins continued, “As the number of people with COVID-19 continues to increase in most states and many countries around the world, we believe Ligand is well positioned to meet higher levels of demand for Captisol. Supplying Captisol for remdesivir will continue to be a top priority for the company; however, we remain focused on executing on our strong and highly diversified core business. As described during our recent Analyst & Investor Day, Ligand is positioned for accelerated growth independent of any contribution from remdesivir.”
Ligand Pharmaceuticals Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de