how valuable is gilead? sam: i don't think anyone viewed gilead as a target. everyone was viewing gilead as a buyer. this is part of that surprise. i don't think anybody wanted astrazeneca to do a deal of this size. i don't know if there will be a bid for gilead. story in anyowth way, at least from what sources are expecting. this is like the opposite, from a position of strength to buy longer-term stability to invest in r&d. we have any indication this will go ahead? it is a matter of when? sam: i don't think they are any regulatory issues here. unless governments and politics get in the way which i don't see why that would be the case, we won't see a deal of that synergy , about having more firepower. it might cut a little bit of overlap, but not much. aside from that, i don't see what the risks would be and is gilead really interested? who knows? the report comes from a good bunch of analysts and news reporters who i am assuming have some good sources. francine: sam, thank you so much . coming up, after america's jobs reports, americans are looking for reas

in the event of gilead chair for would be required. a standalone company is $90, which some investors would argue would be optimistic. i think there could be significant support for gilead shareholders for maximum potential for value creation in the event of a merger. what is gilead worth if we get a vaccine? how much is remdesivir baked into the price? how much of the price is around remdesivir? if we would see demand falling because there was an effective vaccine, would that change the arithmetic? tyler: good question. , i thinkof the base most would argue gilead is worth about $70 per share, may high 60's. probably five dollars of that is remdesivir. in an optimistic scenario, depending on if you're willing to ascribe multibillion revenues , maybe if you get into the mid-80's or $90 per share. i do not think there is a ton of value in the stock from remdesivir. if a vaccine does not come along, i could argue they could both exist. a vaccine, even if it is effective but it is likely not to provide coverage for every single person. th

we are told a gilead is not interested in a merger.ean financial authorities will provide 1 n to keep the country's carrier operational. government bonds will be issued as early as the end of this month korean airlines has received a similar amount for the first half to keep the carrier of float through the rest of the year. british airways is threatened to fire all 4300 of its pilots and rehire them on individual contracts. in a dispute with unions over new employment terms. it plans to shed 12,000 jobs. the carrier has also begun a rival,ight -- for the when they plan to resume services in july. bigoming and not it is a week for global economies. the fed decision, china inflation due on wednesday. plus, india cpi data on friday. -- joined us in the next hour. we will have japan's first quarter gdp numbers. and the trade balance and the next hour. a lot more to come. this is bloomberg. ♪ ♪ >> welcome to daybreak asia. are counting down to the market open in japan and south korea. our top stories this hour, asia-pacific markets look to

gilead. we discuss that next.berg. ♪ anna: welcome back, european market open, eight minutes until the open. looks like we will get weakness as the glass wears off the job story in the u.s. few drugmakers behind the permanent responders to the covid-19 pandemic are looking at the possibility of a combined future. astrazeneca is said to be interested in a merger with gilead. sources tell bloomberg informal contact has been made and what would be the biggest health care deal in history. some liquids have been proposed. -- some big ones have been proposed. aaron.g us now, erin what can you tell us? aaron: i think this approach is a floating approach. the reality is any deal of this size, even if you're proposing it without terms, is going to be something you have to think quite sincerely about before even reaching the topic with your counterpart. but it's early days. as you say, it would be the biggest health care deal of all-time, transformative for both companies, so it will be fascinating to see what happens next.

and astrazeneca is said to have made a preliminary approach to gilead. a merger between the two would be the biggest deal ever in the sector. it has just gone see it -- 6:00 a.m. in london. nejra, welcome back. you went away and you unleashed the burn. i know you are excited. curvee never far from a steepener. bondthis momentum in the market be a repricing or is there a risk from jay powell to the bond market? a few bonds at 1%. the older you get, the more enticing 1% looks. good morning. bears were really on a tear. curve is the steepest in more than three years. it is good to be back. last week was a memorable week. was it really a turning point for risk assets? that is the question. how high will the hurdles be this week? the ecb went above and beyond last week. can we expect much from the fed this week? futures are positive in the u.s. european futures are looking a little negative. eighth day ofits declines. a lot of that has to do with the euro strength. we have pulled back from the 2008 low. it broke out of the twentysomething basis point range. a

astrazeneca much better than gilead.d doing some catch up on the possibility of its virus drug. that could be one reason astrazeneca is interested. could be because they have a bigger r&d pipeline, one of the biggest out there. very attractive to astrazeneca. vonnie: thanks, abigail. new york city is officially entered its first phase of reopening today. a small but important step toward normality. starts tolth crisis ease, and mental health crisis is unfolding across the u.s. amid social protest and unrest. laura murphy is a senior clinical psychologist with the johns hopkins business school of public health. what are your primary concerns right now that given cities are reopening and people have been inside for a long time, those that observed total lockdown. : i think we have a lot of different concerns from the mental health perspective. stress is real for everyone. it comes in different forms, dynamics, uncertainties about the virus, recent uncertainty about jobs and schooling, the of the virus,y changes to relation

they have made an offer for gilead which is also working on a treatment.ning us is nancy tengler of tengler your thoughts on this possible tie up? you, and congrats on the new show. concept, -- the m&a concept but the market is starting to pay attention to normal things and ceos are considering how to rationalize businesses for the future. historically these mergers are good for the sector. this would make sense on the face of it. i think there are big hurdles in and cross pondcs politics if you will. like the fact that the ceos work together and the product type lines are complementary, but i think it is early days and the stocks are not necessarily reflecting that the market thinks this is going to happen in the near term. nancy, let's talk more broadly about the market. you talk about the fact that you could see this as a sign of things getting back to normal. don'tmarkets in some way feel normal and are responding to huge liquidity from central banks and not looking at the economic data. we had solid payroll numbers on friday. does it feel like a ratio

rival gilead about a merger. is our bloomberg intelligence senior pharmaceutical analyst. you are telling me earlier that everyone thought that gilead would be the acquirer. sam: absolutely, francine. it is a surprise from both sides. i don't think anyone expected astrazeneca to be looking for a large deal like this. not just large, the largest essentially. and certainly gilead was viewed as an acquirer. it is not surprising that it is a surprise. every other deal we have had in .erms of mr. myers, francine: what is the likelihood that this will go ahead? i don't know if we will hear from the board whether this will turn into something of an m&a work. war, i don't know if there are many others out there who can do this. it is possible that somebody else with a more flexible balance sheet, such as pfizer, could step in and offer something in terms of equity and cash, but we need a deal first. we need the announcement of a deal first so that others can gauge around the parameters of that. but when it comes to how l

there's news coming out on gilead gilead science is out with pricing news involving remdesivir antiviralment. meg tirrell joins us with more good morning, meg. >> reporter: remember that gilead had agreed to donate remdesivir through june. the logistic call course of treatment. the united states work the share system, it is impossible they need to do things differently they need to be guided by that principal. as the world continues to reopen the social economic impact, we believe pricing remdesivir below value is the right and responsible thing to do. the fact that they are pricing it differently in the u.s. and other developed countries probably going to raise some eyebrows back over to you >> meg, i'm trying to figure out whether dexamethasone is a competing drug and whether that had any influence on where this is priced, going to be used in different settings is it used at the same time? dexamethasone seemed like it had better actual efficacy but i don't know if there's been comparative studies done are both being used on the sickest patients >> that's a really great question, joe. i

we are told gilead is not interested in a sale or merger.les by letting people pay by a monthly installment. the plan will be pulled out in the coming months by the apple card, letting customers split the cost of new gadgets with interest-free payments. the deal would cover ipads, keyboards, and some monitors. apple launched a program last year with 24 months at zero interest. -- netease would raise rent doing to 70 billion u.s. dollars when it begins trading on you say -- on tuesday -- itld raise $200 billion when begins trading on tuesday. billion whene $270 it begins trading on tuesday. >> we are taking a look at stocks, u.s. futures pointing higher by 0.7%. nikkei futures getting more than 1%. again holding steady after a three day decline. oil gaining ground after a six-week event for crude. keeping a close eye on commodity spaces given the opec-plus deal that was hammered out on saturday. this question on whether or not russia and saudi arabia can enforce the rules when it comes to that agreement. we had japanese first quarter gdp numb

i'm thinking of gilead's remdesivir.irill: there is enough of a problem out there for all of the treatments that work. it is not really a competition. they showed some modest improvement. our drug also helps moderate cases but we see substantial improvement in our patients. it can also be taken with tablets, versus injection with remdesivir. but again, the world needs all possible treatments. one of the problems, there was no antiviral against covid. so it's a great improvement that we have this drug that has been proven to work well. scientist taylor: --taylor: i am not a scientist, so walk me through something to make sure i understand correctly. it was used in clinics before the third stage clinical trial. case, what are you accepting from the third stage clinical trial? arill: we are working with different dosage, but to make it simple, this was a japanese drug that worked well against the flu in japan. but there was the question, covid? work well against with some modifications, we have shown that it does work well

they say they're going to continue to look at it over to gilead that stock down today. even as they reported a positive phase three trial of remdesivir. it did show that those on a five-day course of the drug were 65% more likely to improve clinically versus the standard of care. while patients got a 10-day course, that was not statistically significant. analysts saying this further shows that drug works, it does have a benefit the benefit isn't a huge one kind of further spelling out what we already know about remdesivir >> marginal clinical benefit, which really sounds like it won't even -- it won't be completely viable as the commercial product in that the demand won't be there because it's so marginal in terms of the impact >> the demand is there because it has some impact right now it's the only thing that's been proven to work, so the key question for gilead is the supply they're working off a donated supply and trying to ramp it up, and then we're going to hear over the next few weeks where they're going to price this medicine and there's a huge debate over where

optimistic piece of news coming from gilead sciences.have a little more certainty on their coronavirus fighting drug. we have more details on the pricing as well. that was, so information that came out today, disclosed by the company. there is sort of an interesting pricing differential by country. two different prices in the u.s. depending on whether you are commercially insured or the government. something that is not uncommon. the second lower price for developed countries worldwide. then, developing nations will potentially have access at a much cheaper generic. i think it is the last point that is particularly important. ensuring in areas where price is most likely to be an impediment to access will be as much of a problem. as always, no price will make everyone happy. some analysts say these prices are too low for gilead to fully recoup costs. some activists calling the price too high for developed nations given that the states is helping to flood the expended use of medicine. haidi: with the issue of drug pricing front and center

gilead's drug shows a pretty small benefit.drop over -- drop after a phase three study shows only a moderate improvement. this is bloomberg. ♪ ♪ taylor: right now, i am taking a gilead, stocksof trading on a lot of hope. today, the company announced that a study showing an improvement in covid-19 patients did not reach statistical says it -- statistical significance. the five day regimen did show some benefit. frankly, a lot of analysts have been critical of what type of opportunity remdesivir could bring to gilead. makingwould be commercial revenue from the product as soon as the third quarter. on the chart in the terminal. for more, i want to bring in robert, who covers this company for us here at bloomberg news. what did this show us about the efficacy of remdesivir and frankly, the 10 day versus the five day treatment? caroline: i think we have a technical issue here at the moment. taylor, you are taking us through some of these breakdowns in the movement. it is worth remembering the volatility of this stock. brought down t

but gilead, why do you think shares are down because of this? >> there is a real investor kind of at least story line right now about just how important a drug like remdesivir can be to a very large company like gilead, or to any large company that's trying to break in this front if you can see the needle move in a company the size of gilead, it may not be something like this there is also this notion that if you could come up with a drug, a vaccine, a treatment, anything related to the coronavirus, how much would you or can you really charge for it? there is a lot of stuff out there saying, you know, maybe they should do this at break even just so you can get this global pandemic taken care of. it's more a service to the human race rather than being a profit motivator. that's the reason, by the way, when you show the year to date chart of gilead, the stock has been all over the place but it generally hasn't done very much in response to the positivity around remdesivir, and that's probably the reason why. >> real quickly, meg, are you hearing a

we talked with gilead's ceo and he said that's just the way u.s. pricing works. gilead had been up as much as 3% on this news today, although it is flattening out here analysts, kelly, are generally projecting this to mean gilead will make about $2 billion in revenue off of this drug this year given that they're spending a billion dollars on it, that's a billion dollars in profit. >> meg terrell with all the latest headlines for us. it doesn't help investors that meanwhile 40% of s&p 500 companies have now pulled their guidance this quarter. joining me for more, kim forest is chief investment officer. kim, your thoughts overall on this market. pretty nice rebound today. last week was a little messier. >> well, i think everything is all about covid-19 and that is what the market has its eye on if the news is good, we go up. if the news is not that good, we go down. and i think we're really, really keying on the things that can save people, which are things like gilead's drug and then a vaccine. so we've got a little good news on that today and the market goes up.

what you're hearing from gilead is by the fall, they should be in a significantly better position, but alisyn, this is a good time to remind people as much as we focused on, you know, medications like remdesivir and hydroxychloroquine and talking about a couple of vaccines, there's 160 or so vaccine candidates out there, roughly a dozen that are in human clinical trials and as far as therapeutics, medicines go, there's over 230 or so that are now in some sort of clinical trial, so there's all sorts of candidates out there that they ha have, we have been keeping an eye on. some gain steam and have impact, the antibody therapy looking at antibodies from people who have recovered and seeing if you could use those to help treat or prevent disease in others, so we're keeping an eye, alisyn, on lots of different things out there. >> we know you are. we know the doctors and scientists are working overtime to try to crack this medical mystery but thank you very much. it's always great to check in with you for a status report. >> you got it. >>> black lives matter protesters in the uk threw a s

i never really wondered what the political angle of astrazeneca-gilead would be.not see why that would be an issue when it ends up being a merger of two companies with little overlap. not a lot of costs 20 required -- not a lot of cost-cutting required, either. to piggyback off of that. raising the profile in the u.s. for astrazeneca. works, i cannot imagine the u.s. than being ok with astrazeneca giving this antibody first to the u.k. or another country. sam: remember, that is a very good point. with these antibodies, you are not looking at giving it to everybody under these deadline -- everybody under the sun. these are something you would use for treatment. the company that is leading in this race is eli lilly. they are the ones in human trials as of june 1 with their antibodies. the second one just started today, and that is developed in collaboration with biosciences. you have eli lilly in the lead. and you alsone have regeneron. there are lots of others with skin in the game and all will probably be starting phase one trial in june. at the end of the day you

weiss, gilead upgraded today outperform what is your thought on gilead if any >> yeah.'m staying away from it i owned it in the past for other reasons. i don't know if they'll make money on this. i don't think they will. there's so many drugs coming out. look i'm away from it if you want to own stocks here, own the index. this is one where you should own if you're a retail investor the etf. otherwise you can't pick a single stock this has gone nowhere for years. >> pete, you own gilead stock calls? >> yeah. i own both the stock and the calls. i don't disagree with steve necessarily. it is an underperformer for a long time but the oirperformanc picked up. it is just such an expensive company with an incredible pipeline still so do they have everything solved? absolutely not i think this is a company undervalued and if you look at the i bb and the rest, the space moving to the upside and gilead participated at times. got couple spooks well over 80 i think this is a stock that could very easily be an $84, $85 stock in no time i on it and while i do as far as the stock's co

gilead also working on a treatment.howe got an update. >>> tech stocks have powered the market's recent surge, but they're looking pricey. barron's found a few for a reasonable price. >>> and the pandemic-fueled down ton and the protests following the killing of george floyd, the economic cost of inequality. on the virtual round table, my colleagues bev leveson, carlton english and jack howe. so an old generic steroid proved to be really beneficial for covid-19 patients, and the market moved higher on that news, jack. this is another reminder that this is something that won't kick into full gear until medical science makes some advances. >> that's exactly right. i've been limbering up my lips to pronounce some long words because i want to tell you the good news about dex methadone and say goods things about remdesivir. we started with week with the fda revoking the authorization for the chloroquine and hydroxychloroquine. but a day later we got results from a trial in england, and this is aster oiled, dexamethasone, and

we talked with gilead's ceo this morning on how they set the price. here's what he said. >> we priced it at the value, excuse me, at the price that allows for access across the developed world. and what we've done is we have one price for all governments across the development world based upon the lowest purchasing power of the lowest developmented countries and provided that price to all governments around the world that's important, i think. it's our responsibility and we feel it is the right thing to do >> so, guys, even though the gilead price coming in below the value it creates in terms on cutting down on hospitalizations times you see gilead stock up 2.7% as wall street thinks they outlined a good rationale for this and see a lot of volume coming from this drug. carl >> all right, meg, we'll see gilead up almost 3% this morning. >>> we'll take a quick break here plenty of news we have not yet gotten to including a double upgrades and downgrades. double down grade out of b barclay's and double upgrade we're back in a moment this is decision tech

gilead shares down nearly 3% ♪ ♪ ♪ ♪ >>> welcome back eli lilly is beginning the world's first trialg derived from the blood of covid-19 survivors their shares are fractionally higher and gilead is selling off. let's get to it with meg tirrell. let's start with the news from eli lilly. >> yeah. it is exciting news. this would be the first potential medicine actually designed specifically to fight covid-19 and as you said, it is derived from the blood of one of the first people to recover from covid-19 in the united states. it's an antibody designed to potentially both treat the infection and to prevent it if it's successful so in this phase one study lilly enrolling 32 people and started to dose the first of them. they're essentially looking at an assessment of safety and tolleriblety and this is an acceleration of the timeline we heard from lily and the partners and the national institute of allergy and infectious diseases putting them ahead of regeneron slated to begin human trials this month viir plans to be in human trials this summer and others are also working on this approach,

foster-city based gilead scientists saysvial to americand by government programs.eople with private insurance will pay more, $520 per vial. most people are given a six-vial treatment. gilead says the amount people will pay out of pocket will depend on individual insurance plans. >>> parents still don't know will their kids be back in classrooms in a few months. tonight pediatricians are weighing in. the american academy of pediatrics says all policy considerations for the coming school year should start with a goal of having students physically present. the aap worries that kids will continue to lose access to mental health services, food programs, and will remain socially isolated. but some parents say the health risk isn't worth it. >> at this point we're trying to -- we're talking about their health and their lives. >> those risks are lower for children but we also have to take into account all the other risks of not having them in school. >> the aap suggests kids could be three feet apart with assigned school bus seats. schools and states will make the final de

we have a biotech analyst with us i was very surprised that one of your top picks is gilead, a stockat other analysts are worried isn't going to go anywhere even if it does continue to rollout coronavirus treatments it's not going to make a lot of money off that talk a little bit about why you like it. >> great just taking a step back, i mean, there is more to gilead than the coronavirus drug you know, the base business for hiv remains very, very strong. i see a tale for that over the next ten years of very strong growth from the business on top of that, you know, gilyard's management team which got in place about 2019, they tigly, like, started to do deals. you have seen many deals hit the tape for gilead and oncology they're starting to build that pipeline that everyone is looking for. we lost sight with the inhaler products there is a possibility there could be potential revenues. for me the story on gilyard is hiv and that pipeline and my view is they'll continue to do both and executing well. >> had a what about astro citizastrozeneca? you are setting that to the side >> my pers

why the heck would they need gilead astrazeneca is on the way up and gilead is questionable and it'sble because they're not out to try to make a lot of money on this. i think astrazeneca should be up they have done a terrific job. it is rather remarkable. would the oxford deal work i don't know i recently said, don't bet against science and i thought it was interesting because i was ridiculed in "new york times" magazine to say don't bet against science. david, you'll know this animal house saying don't bet against america. i mean, i always thought the most outstanding character. >> and it had aspirations to be a university, but it was a college. >> i thought it was a graduate school but, anyway, what matters is betting against science is certainly not, not made you any money in the stock market. but there is a notion and i think, carl, we talked about the covid index that most of those stocks are now in the past and what we want to do is be on rocket fuel. we want to be on slumber and halliburton and apache apache has tripled since the quarter began and we don't want to be in and ge

revising merger monday, the potential pairing between gilead sciences and astrazeneca. that and so much more coming up. romaine: a health pandemic, recession, and of course those protests over the police killing of george floyd have transformed the landscape in the u.s.. we want to welcome james knightley, the ing chief economist recently published a u.s. election scenario. time seven months ago, we had an economy that was at a very minimum, stable, the incumbent president had the advantage of having a good economy, low employment -- low unemployment, and a lot of things at his back. is there any real sense that will hold that against him in october? james: nothing really sticks right now. i think when you look at the economic performance, you can certainly look at the equity market. 11% year onis up year. presssaw in the conference on friday, saying the covid-19 situation is happening but i am getting unemployment down. my economic policies are working clearly, he is trying to move on to the front foot. the george floyd situation does create a really challenging situat

. >>> gilead setting the price for their coronavirus drug >> this is a closely watched decision gilead existing supply up until now. now they announce there will be two different prices for the drug in developed countries. one for governments of developed countries including the united states, $390 per vile, or for the average court of treatment, $2340. that is 30% more they say that is because of the way the u.s. system works in terms of having two track prices they say their calculations are based on the savings of hospitals by $12,000 they're giving a major discount to that. drug pricing watchdog ices puts $2500 to $5000 as the fair price. here is what they said about how they came to the price >> this medicine adds significant value and we decided to price this in this very extraordinary time in priced ite at the price that allows for access across the developed world. what we have done is we have one price for all governments across the development world based upon the lowest purchasing power of the developed world countries. >> wall street trying to parse through the implications

gilead is not interested in a sale or a merger.re airlines has secured the equivalent of just over $7 billion u.s. in fresh liquidy as it looks to ride out the coronavirus panic. just over $6 billion of that was secured in a rights issue last friday. lines have been renewed at least another half year and another half billion dollars is being raised in a short-term unsecured loan with several banks. semiconductors reported to have one extra order with production lines remaining fully loaded through the end of the year. the orders come from apple, qualcomm, amd and others, and will help make up for declining chip demand from huawei's high silicon technology amid pressure from the u.s. asian markets are off to the races, set for the longest winning streak in 60 months. we had better-than-expected -- 16 months. we had better than expected numbers pointing to a global economy that is less bad. the focus this week is on the fed policy reassuring investors to keep neat -- keep rates near zero. gainon soem's continue to with biggest gains

health regulator is looking to fast track the approval of gilead sciences antiviral drug. as a potential covert 1000 treatment in europe that's after the u.s. drug maker submitted its marketing obligation new york city has begun a 1st phase of reopening from a citywide shutdown to battle the virus that nearly killed nearly 22 that killed nearly 22000 of its residents the u.k.'s 2 weeks of isolation rule for most arrivals has now come into force and lines of launch legal proceedings against the government over what they say is a disproportionate step workers in paris have begun dismantling scaffolding some of which melted during the fire at night or down cathedral last year restoration work was going on when the blaze broke out now about $200.00 tons of metal must be removed. this is the most nerve wracking moment of the restoration you can only observe the work from a distance the big question is will the cathedral hold up over time mostly or should they has been supervising the work from the start. it's critically natives this is a difficult stage but yes the climbers hav

health regulators looking to fast track the approval of gilead sciences antiviral drug desa vir as a potential covert 19 treatment in europe that's after the u.s. drug maker submitted its marketing application new york city has begun a 1st phase of reopening from a citywide shutdown to battle the virus that killed nearly 22000 of its residents and the u.k.'s 2 weeks of isolation rule for most all rivals has now come into force and lines of launch legal proceedings against the government over what they say is destroys a disproportionate step. u.s. attorney general william boss says there are no plans to seek the extradite extradition of britain's prince andrew boss statement comes as lawyers for the prince hit back at claims that he's not cooperating with u.s. prosecutors investigating the late geoffrey epstein the financier was found dead in prison last year while awaiting charges of sex trafficking. u.s. prosecutors a frustrated to spot publicly saying he was willing to cooperate with a criminal investigation prince andrew has yet to assist prosecutors in their inquiry left. it foll

so far gilead has been donating it, giving it away for free. now they've set a price.s take a look at what that price is. $2,340 for a five-day treatment which is the typical amount of time a person takes it. for private patients, $3,120. this price was lower than expected but still some said it was too high. taxpayers gave a considerable amount of support to develop this drug and some said that gilead should have given a lower price point. laura, boris? >> elizabeth, thank you for that update. >>> the supreme court pinning a very big win to advocates of abortion rights but there could still be a way for states to restrict access in some cases. cnn is at the supreme court next. want to brain better? unlike ordinary memory supplements, neuriva has clinically proven ingredients that fuel five indicators of brain performanc: memory, focus, accuracy, learning, and concentration. try our new gummies for 30 days and see the difference. to give you the protein you need with less of the sugar you don't. [grunting noise] i'll take that. woohoo! 30 grams of protein and 1 gram of

gilead said it will charge $390 per vial for those covered in insurance.t people are given a six-vial treatment. gilead says those who pay out of pocket will depend on individual insurance plans. >>> justice in antioch, demanding the removal of officer michael maloney and corporal steve ayello. maloney resigned from the san francisco police department just before he was set to be disciplined last year and then joined the antioch police department. >> we're hoping that they'll hear us now and actually take some action because we've been getting a lot of runaround. we're investigating. we're working on it nobody hates bad police more than us. we're looking into it, but we've not had any action. >> ayello, president of the local police union made social media comments they called outrageous. he later apologized for those comments. >>> you have to remember this image. she nobly rode atop a horse to downtown oakland to send a message about pride and prejudice. brianna noble riding her horse. joining us now near her home. thank you for being with us. we can hear

meanwhile, gilead making news today. announcing the price of its drug remdisivir one for u.s. private insurance and another for governments around the world the private insurance price is about 30% more we talked with gilead ceo about how they reached these prices this morning >> whether you're covered by a private insurer, a government insurer and whether you're uninsured with covid-19, there will not be an issue with access. it's been a key tenant of the trump administration now we have the drug priced 30% higher than other developed countries. >> all right thank you very much. >>> stocks have rebounded from friday's big sell off as you can see on the screen there. a lot of green today citigroup has struck a more bearish tone in its recent quarterly survey 70% of asset managers expect a 20% correction that's more likely than a 20% move hire in stocks. are they right let's talk to scott. kevin, let me start with you it feels as though the market is very, very headline driven today headlines on boeing helping the dow a lot. headlines on apple helping a lot. last week it was co

gilead will begin charging for the drug next month. it had been donating it to the government.emdesivir can help a patient recover faster and also cut the hospital stay by several days. >>> the time is 6:45. a man from riverside county who had the coronavirus has a very important warning for all of us as the number of new cases keeps going up. christian says he, like many others, was eager to get out of his house after a long lockdown.. he says he got sick after going out barhopping with his friends. he hopes others do not make the same mistake during the pandemic. >> we could be a little bit more responsible and take better procedures. we should think more about what we are doing and not think we are young and basically indestructible. we are not. >> doctors expect him to fully recover. he says it will be a long time before he goes back to a bar. >>> firefighters in southern california near the mexican border and making sure a devastating wildfire does not flare up again. flames raced through the town of nylund in imperial county just east of the salton sea. the fire started s

. >> gilead scientist announced it will cost 310,025,000 four private. gilead. >> today is the last day to apply for a lone from the paycheck protection program. they handed out $525 billion in loans to help small businesses and preserve workers. $10,030,000,000,000 is still available after the second wave of funding was provided for the program. the richest movie chain is delaying the opening for two more weeks now. amc decided to push back the date of the scheduled reopening until the end of july. most of this year's summer blockbusters have not been released. amc reversed course and decided to require moviegoers to wear masks once those theaters reopened. >> unfortunate there. i know the century dealer, one of the first we ever stepped in. as a young man and child, it shut its doors for good. thanks for watching. our next newscast coming up at 4:00 p.m. and dr. oz is next. at some point she was taken.oint she dr. oz: jennifer vanished without a trace. >> we knew something was wrong. dr. oz: why her parents will not give up searching. plus -- label iss

gilead will try using remdesivir to see how it works in combination with other therapies.w remdesivir has been shown to work with covid-19 but it is not by anyone's definition a wonder drug. what it showed in studies in the intravenous form is that it cuts down on a hospital stay by about four days. a good thing but, again, not a wonder drug. christine, laura? >> thank you. the u.k. reporting its lowest daily death toll since the pandemic began. prime minister boris johnson is expected to lift lockdowns including for pugs. when can the british public enjoy a pint? >> reporter: well, some are enjoying pints already but only if they're a take away. i'm pointing to my local pub. they were very excited about potentially a further loosening of rules. pubs could be allowed to reopen as soon as the fourth of july. that is what we expect the prime minister will announce today. not just that, but the guidance on how. how can these businesses reopen? what procedures need to be put in place. it will not be prepandemic will be reduction in the social distancing rule. currently in the

one would think, but will it manifest itself in higher stock prices look at what we've seen with gilead, for example, the stock went from 77 to 85 and it went all of the way back to 70. we talked about moderna a number of times, and i don't necessarily think you can game this by buying stocks that can come up with a vaccine because i don't know what it will mean necessarily to the bottom line what i will say is this, i still think big-cap pharma is inexpensive and there are places to be in biotech quickly we've done a decent job with amgen and we pointed out that it will have trouble at 245, the high we saw in december and that's what's happened and amgen is a name that sticks out to me and you're looking for an entry point and in my opinion, if it gets down to 210 that's a name you buy with two hands and gilead is getting an upgrade today on the better outlook for remdesivir, the treatment for covid-19 tim, we simply don't know about the economics in terms of how much drugmakers, if anything, they will make on any of these treatments or vaccines. >> right >> well, and again, i would si

>>tonight we know that gilead sciences is setting prices for its covid-19 drug remdesivir year. it will cost $390 per vial for the government which includes medicaid and it will be the same price for developed countries. a typical five-day treatment course that would include 6 files. you do the math and that's going to cost you more than $2000 a patient, private insurance companies will be charged more at $520 a vial until now the company has been donating the drug to the u.s. government. it's the only medication that's been approved for emergency treatment of the coronavirus a major decision from the supreme court regarding abortion today, the court. >>has struck down a louisiana law that would have regulated abortion clinics. conservative chief justice john roberts. join the more liberal justices in this ruling he was the decider it strikes down the requirement that doctors who perform abortions must also have admitting privileges at nearby hospitals. the louisiana law was virtually identical to one in texas. the court also ruled against in 2016. and roberts cited that precede

shares of gilead down about 2.3% today. but as new spikes take hold globally, particularly in south korea, do we need to light the fire under all of these companies? up next, a fox business exclusive with the mayo clinic's leading man in charge of researching covid-19 treatments. the world is watching him and waiting on him. he's here with us today. "the claman countdown" will be right back. ♪ ♪ yeah ♪ ♪ y-yeah ♪ ♪ yeah ♪ hey, hey ♪ ♪ yeah we could never do what they do. but what we can do it be a partner that never quits. verizon is the most reliable network in america. built for interoperability and puts first responders first, giving their calls priority, 24/7. we do what we do best so they can too. liz: south korea's top health officials say that after the country had become a model of how to move quickly to snuff out coronavirus, it is now being hit by the second wave of the pandemic. the korean center for disease control now says outbreaks are beginning to grow, stemming from large offices, warehouses and nightclubs.

>>well drugmaker gilead sciences says that a study shows the anti-viral drug remdesivir can help patients recover from a moderate dose of the coronavirus a study of 600 patients found those who were given the drug war 65% more likely to see some clinical improvement after 11 days. the results have not been published yet in a medical journal something that could happen in coming weeks. back to our coverage of the protests following the ath of george floyd to governor newsome says that he well not implement a statewide curfew at least not at this point. but he is bringing in several 1000 members of the national guard. ashley zavala has the latest. >>here at the state capitol barricades are up around the building in anticipation of more protests that could turn destructive. the governor pleading for peace as protests continue throughout california pandemic on top of the pandemic governor gavin newsome sympathizing with george floyd supporters the black community is not responsible for what's happening in this country right now we are after demonstrations consumed california over the weekend

. >>> this morning, gilead sciences has released the results of its latest human trial for remdesivirg being used to treat covid-19 patients. jobina fortson with more on thesereports. jobina? >> thank you, reggie, yes. some positive news. gilead said their human trials further prove and this is for phase three further proves that remdesivir can help covid-19 patients. this is what we're learning this morning. the company based in foster city released the results. they say patients who were given remdesivir for five days were 65% more likely to show improvement in their health by day 11 in inhospital compared to patients who were not given the drug. patients who were given the drug for ten days also recovered faster than people who were not treated with the drug. researchers found there isn't much of a difference between patients who were given remdesivir for five days versus ten. researchers say treating patients with remdesivir early is key in their progress. reggie and kumasi. >> thank you, jobina. >>> now checking with mike for a look at the forecast. good morning, mike. >> good mo

gilead says it will charge u.s. most patients who need this five day cobit treatment. is that expected -- covid treatment. is that expected? selina: it is higher than some patient groups had been pushing for but it is close to a level some drug pricing watchdogs said would be acceptable based on what they expect the benefit to be. there are hundreds of treatments and vaccines. gilead's drug is one of the first widely used drugs in early may. it received an emergency use authorization from u.s. regulators after a trial found that the recovery by four days in hospitalized patients. gilead's pricing is consequential because it sets a precedent for how much future covid treatments may cost. the price which comes out to $520 per vial would apply to patients in the u.s. but it plans to charge a lower price, 2300 $40 for a five day regimen, for direct government purchases by the u.s. or other developed countries. and some advocates say that this price is way too high. consumer rights for a public citizen say it should cost

gilead sciences so they make the only drug that has fda approval for emergency use of the virus. it is administered through daily ib infusions at a hospital. but the company now says it has been approved to start trials of an inhaled version. volunteers will be screened for trials this week and studies with patients who have the virus could begin in august. all right, let's take a live look outside again, san francisco's embarcadero it's going to be getting warmer and again a bit of a concern about fire risk but let's go back to mabrisa rodriguez yeah and it is going to be a risk for much of this week catherine because of the warm and dry air mass that's currently in place in the warming trend is going to continue. >>even as you take a look at your microclimate tuesday forecast downtown san francisco. exactly where we should be 67 degrees the same for half moon bay in the mid 60's as well millbrae and burlingame warming up into the low 70's, so winds on the breezy side but because of these very warm and dry temperatures and a lack of rain that we got during the wet season really

antiviral drug remdesivir is about to test an inhaler version as a potential treatment for the virus gileadciences they make the only drug that's got fda approval at this point for emergency use against the virus. it is administered through daily ivy infusions at a hospital but the company says it has been approved to start trials of an inhaled version. volunteers will be screen for phase one trials this week studies in patients with the virus could begin in august. taking another live look outside it was a beautiful day we're looking out over the embarcadero let's check in on the forecast again for brits are still some concern about the dry hot weather. yeah and that's going to be a concern all week long catherine, especially for inland areas going to be about 5 to nearly 15 degrees above average in the coming days, let's take a live look outside from our alcatraz camera we can barely make out the san francisco skyline. >>because of that june gloom and it's hanging tight still right along golden gate bridge. so temperatures along the bay area coastline, upper 50's and low 60's with widespr