continued...
Great expectations
There have been other coronavirus outbreaks in the past. SARS (severe acute respiratory syndrome) emerged in 2003. MERS (Middle East respiratory syndrome), made headlines in 2012. But despite initial concerns, no vaccine or antiviral drug has been approved for either virus strain.
Perhaps Gilead will make a lot of money if remdesivir proves to be effective at treating 2019-nCoV. But based on the past, there appears to be a good chance that worries will die down after this virus strain runs its course.
Meanwhile, analysts think that filgotinib will generate peak annual sales of around $3 billion in treating rheumatoid arthritis. Gilead is also evaluating the drug in several other autoimmune indications, including Crohn's disease, psoriatic arthritis, and ulcerative colitis. If filgotinib wins approval for all of those indications, it could rack up another $3 billion in annual sales.
Gilead liked the prospects for filgotinib so much that it spent $5.1 billion last year to expand its partnership with Galapagos, the biotech that initially developed it. Prior to this deal, Gilead owned the license to commercialize filgotinib. Now, the company also has an exclusive license and options rights to develop and commercialize all of Galapagos' programs everywhere outside of Europe.