Gilead Sciences (GILD) Reaches Deal to Offer HIV Vaccine to Low and Middle-Income Nations

Gilead Sciences, Inc. (NASDAQ:GILD) is one of Goldman Sachs’ top healthcare stock picks. On July 10, the company announced it had reached an agreement with the Global Fund to Fight Aids, Tuberculosis, and Malaria. Under the agreement, the company is to make available its twice-a-year HIV pre-exposure prophylactic Yeztugo accessible to low- and middle-income countries.

It marks the first time that preventive HIV medicine will become available to low and middle-income countries, as is the case in high-income countries. As Gilead makes the drug available, the nonprofit is to select beneficiary countries based on HIV programs available in the places.

The FDA approved Gilead’s Yeztugo, a twice-yearly injection, last month. The approval is seen as a significant win for the company, with analysts insisting it has the potential to redefine the PrEP market. The drug is currently priced at $28,218 for a year’s worth of shots, and waiting to see if the company will offer the nonprofit organization a profit.

Gilead Sciences, Inc. (NASDAQ:GILD) is a biopharmaceutical company that discovers, develops, and commercializes medicines in the areas of unmet medical need. It develops medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis, and cancer.

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Disclosure: None. This article is originally published at Insider Monkey.