Jim Cramer: I'd Buy AbbVie Over Gilead
The FDA gave a stamp of approval for "emergency use" of Remdesivir, an antiviral drug intended for the treatment of hospitalized coronavirus patients.
"It is reasonable to believe that the known and potential benefits of RDV outweigh the known and potential risks of the drug for the treatment of patients hospitalized with severe COVID-19," wrote Denise M. Hinton, chief scientist at the FDA.
And now Gilead has said that it plans to donate 1.5 million vials of remdesivir.
In its earnings report, Gilead said that it also expects to spend $1 billion to ramp up production of the drug.
Gilead "will focus on making Remdesivir both accessible and affordable to governments and patients around the world," according to the statement.
Watch the full video above for Jim Cramer's full take.
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