Biden boosts anti-viral research with $3 billion investment

18 June 2021

The US government has announced it will invest more than $3 billion to boost discovery and development of new antiviral medicines for the novel coronavirus.

While a number of antivirals have been shown to have an impact on COVID-19, including Gilead Sciences' (Nasdaq: GILD) Veklury (remdesivir), there remains a high level of unmet need for more effective options.

The new investment comes hot on the heels of the announcement from the Biden administration that it would spend over $1.2 billion to buy 1.7 million courses of an oral coronavirus treatment, molnupiravir, under development from Merck & Co (NYSE: MRK).

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