Jim Cramer has some thoughts on the pharmaceutical sector.
"The company is one of the few biotech firms that’s had some success in combating the coronavirus with its remdesivir drug. According to the World Health Organization, it’s the “one drug right now that we think may have efficacy,” noted TheStreet's Bret Kenwell. He broke down his trade for Gilead.
"Gilead closed just under $70 on Friday, but opened near $74 on news that a WHO team said the company's remdesivir drug is the only one with real efficacy against coronavirus. That's enough to get many traders excited, but it's one team and not the results of a trial. There are so many variables that go into that statement which makes it impossible to draw the conclusion the drug will be effective on a large scale. Once again, we're back to speculation," wrote Timothy Collins over on Real Money.
Cramer discussed his thoughts on Gilead and how investors should be approaching the pharmaceutical sector as the coronavirus fears linger over the market.
Watch the full video above for more.
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