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May 28, 2020, 7:34 a.m. EDT

Roche's shares rise on news of study testing Actemra, remdesivir in COVID-19 patients

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By Jaimy Lee

Shares of Roche Holding AG /zigman2/quotes/206324342/delayed CH:ROG -0.79% gained 2.4% in premarket trading on Thursday after the drugmaker said it is testing a combination of its rheumatoid arthritis drug Actemra with Gilead Sciences Inc.'s /zigman2/quotes/210293917/composite GILD -0.39% remdesivir in hospitalized COVID-19 patients. Gilead's stock was down 0.4%. Roche has previously announced it is studying Actemra in 450 hospitalized COVID-19 patients participating in a randomized, double-blind, placebo-controlled late-stage trial; results from that trial are expected "this summer," Roche said. The new Phase 3, randomized, double-blind, multicenter study will test Actemra and remdesivir against placebo and remdesivir in about 450 patients hospitalized with severe COVID-19 pneumonia. Trial sites are in Canada, Europe, and the U.S. The Food and Drug Administration granted an emergency use authorization to remdesivir on May 1 as a treatment for some severely ill COVID-19 patients. The experimental drug has not been approved as a treatment for the disease caused by the coronavirus. Since the start of the year, Roche's stock is up 8.2%, Gilead's stock has gained 15.2%, and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24% has declined 6.0%.

/zigman2/quotes/206324342/delayed
CH : Switzerland: SWX
CHF 344.55
-2.75 -0.79%
Volume: 781,227
July 26, 2021 5:31p
P/E Ratio
21.20
Dividend Yield
2.64%
Market Cap
CHF303.04 billion
Rev. per Employee
CHF574,809
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/zigman2/quotes/210293917/composite
US : U.S.: Nasdaq
$ 68.75
-0.27 -0.39%
Volume: 4.31M
July 26, 2021 4:00p
P/E Ratio
303.00
Dividend Yield
4.13%
Market Cap
$86.56 billion
Rev. per Employee
$1.81M
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/zigman2/quotes/210599714/realtime
US : S&P US
4,422.30
+10.51 +0.24%
Volume: 1.80B
July 26, 2021 5:03p
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