Working to Supply Remdesivir for COVID-19
Gilead is the company that has been dedicated to antiviral research and the manufacturing of antiviral drugs. For the last ten years, the company has focused on the manufacturing of remdesivir and carrying research to identify its efficacy. As of January 2020, the company was not actively manufacturing remdesivir (Gilead para. 3). The production supply chain had been scaled to periodical manufacturing to treat about 5,000 patients (Gilead para. 4). The drug was further manufactured over a lengthy process that took 9 to 12 months. Since the identification of novel coronaviruses that are the causative agent of COVID-19, Gilead has strengthened their research to ascertain the efficacy of remdesivir in the virus as the new treatment. As of today, remdesivir is among the known drugs that offer significant relief to individuals with severe COVID-19 symptoms.
Gilead has forecasted a substantial increase in the demand and sales of remdesivir. According to WHO predictions, 14% of patients with COVID will experience a severe manifestation of the symptoms hence requiring the need for remdesivir (Gilead para. 6). The increased cases of global infections present an opportunity for Gilead to sell their products. Gilead has taken up measures to increase its supply from that of 5,000 patients to meet global demands presented by Covid-19 (Gilead para.8). Gilead has increased its supply to produce more than 2 million by December 2020, and several millions of remdesivir drug by 2021 (Gilead para.7). The company has supplemented internal manufacturing with additional capacity from various manufacturing partners in North America, Asia, and Europe. The firm has further improved the production process by shortening timelines and increasing volumes.
The Gilead remdesivir forecasting case study relates to our study topic by highlighting how the organization has utilized the hypothesized drug increase. The selected case study shows how firms can carry out future forecasting and use the information to adjust to the demands. By adjusting to future demands, Gilead is expected to make maximum profits from the presented increase in demand.
Work Cited
Gilead. “Working To Supply Remdesivir For COVID-19”. Gilead.Com, 2020, https://www.gilead.com/purpose/advancing-global-health/covid-19/working-to-supply-remdesivir-for-covid-19.