Gilead signs deal with EU to deliver COVID-19 therapy
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The European Commission said on Tuesday that the organization struck a joint procurement contract with the U.S. pharma giant Gilead (NASDAQ:GILD) for Veklury, an antiviral treatment indicated for COVID-19 patients.
According to Reuters, the deal marks the second contract for the treatment after the last agreement expired in April.

Per the terms, the 22 member states and countries participating in the joint procurement can purchase up to ~2.3M vials of Veklury.
Issuing a statement, Gilead (GILD) said that the agreement covers Veklury purchases for the next twelve months with an option to extend the deal for an additional six months. The financial terms of the agreement were not disclosed. 
Veklury is authorized in Europe for COVID patients, who are at high risk of developing the severe form of the disease and those who have pneumonia and require supplemental oxygen.
Earlier in the day, The Financial Times reported that the European Commission is close to reaching a deal with Pfizer (PFE)/BioNTech (BNTX) to delay the vaccine shipments the companies have agreed to deliver as far as into 2024.