FDA formally approves Gilead’s Veklury for young children

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The Food and Drug Administration said Monday it expanded the approval of Gilead Sciences Inc.’s GILD, +0.64% Veklury to include pediatric patients between the ages of four weeks and 12 years old. (Infants must also weigh at least seven pounds.) Veklury is a COVID-19 treatment for patients who have been hospitalized or who have mild or moderate infections but are at high risk of severe COVID-19. The drug previously received emergency authorization for this group of pediatric patients. “As COVID-19 can cause severe illness in children, some of whom do not currently have a vaccination option, there continues to be a need for safe and effective COVID-19 treatment options for this population,” Patrizia Cavazzoni, director of the FDA’s Center for Drug Evaluation and Research, said in a news release. Gilead’s stock is down 14.7% this year, while the broader S&P 500 SPX, +0.57% has declined 10.3%.

This article was originally published by Marketwatch.com. Read the original article here.

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