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March 19, 2020, 3:50 p.m. EDT

Mylan to restart production of hydroxychloroquine

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By Jaimy Lee

Shares of Mylan /zigman2/quotes/209413137/composite MYL -1.04% were up 6% in trading on Thursday after the drugmaker restarted production of hydroxychloroquine-sulfate tablets, which are being considered as a possible treatment for people with COVID-19. Stephen Hahn, the commissioner of the Food and Drug Administration, said Thursday at a news conference with President Donald Trump that the regulator is evaluating granting expanded access to the drug, given the lack of proven treatment options for people sickened by the novel coronavirus. Mylan's hydroxychloroquine-sulfate tablets currently have FDA approval for malaria, lupus erythematosus and rheumatoid arthritis. The company said it may have a supply in place by mid-April, with the bandwidth to make 50 million tablets, which could treat about 1.5 million patients. Mylan's stock has dropped 25% year-to-date. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48% is down 25%.

/zigman2/quotes/209413137/composite
US : U.S.: Nasdaq
$ 17.07
-0.18 -1.04%
Volume: 8.15M
May 29, 2020 4:00p
P/E Ratio
145.15
Dividend Yield
N/A
Market Cap
$8.82 billion
Rev. per Employee
$326,506
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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