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The Food and Drug Administration on Thursday approved remdesivir as a treatment for hospitalized coronavirus patients, Gilead Sciences said, making it the first FDA-approved drug for Covid-19.



<h4 class="wp-block-heading">KEY FACTS</h4>



The drug was previously granted an emergency use authorization in May, which allowed healthcare providers to administer the treatment even though it wasn’t formally approved by the FDA.



Remdesivir, which is sold under the brand name Veklury, “should only be administered in a hospital or in a healthcare setting capable of providing acute care comparable to inpatient hospital care,” Gilead said.



The drug is approved for adults and children 12 and older weighing at least 88 lbs. for coronavirus treatment requiring hospitalization.



Clinical trial data has been mixed: A&nbsp;<a href="https://clinicaltrials.gov/ct2/show/NCT04292730" target="_blank" rel="noreferrer noopener">randomized</a>&nbsp;trial from the National Institute of Allergy and Infectious Diseases found remdesivir improved recovery time, but a study from the World Health Organization, which has not yet been peer reviewed,&nbsp;<a href="https://www.forbes.com/sites/mattperez/2020/10/15/antiviral-drug-remdesivir-proves-ineffective-in-treating-covid-19-who-study-finds/#ff60bb95d01d">found</a>&nbsp;last week the drug did not increase the chances of survival or result in faster recovery.



Gilead shares jumped 3.8% in after hours trading following the announcement.&nbsp;



<h4 class="wp-block-heading">CRUCIAL QUOTE</h4>



“It is incredible to be in the position today, less than one year since the earliest case reports of the disease now known as COVID-19, of having an FDA-approved treatment in the U.S. that is available for all appropriate patients in need,” said Gilead CEO Daniel O’Day in a statement.



<h4 class="wp-block-heading">KEY BACKGROUND</h4>



President Donald Trump took remdesivir when being treated for the coronavirus earlier this month.



&#8211;By Rachel Sandler, Forbes Staff

GERMANY-HEALTH-VIRUS

FDA Approves Remdesivir For Covid-19 Treatment

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After two weeks of massive demonstrations against police brutality brought Nigeria’s financial hub, Lagos, to a virtual standstill, government security forces using live ammunition opened fire Tuesday on hundreds of protestors rallying against a government-mandated 24-hour curfew.



<h4 class="wp-block-heading">KEY FACTS</h4>



At least seven people were killed during the melee, according to a&nbsp;Guardian&nbsp;<a href="https://www.theguardian.com/world/2020/oct/20/nigeria-protests-lead-to-24-hour-lagos-curfew" target="_blank" rel="noreferrer noopener">report</a>&nbsp;citing a popular African disc jockey, DJ Switch, who was live-streaming the demonstration on Instagram.



<a href="https://www.forbes.com/sites/danielcassady/2020/10/21/nigerian-security-forces-open-fire-on-protesters-in-lagos-24-hour-statewide-curfew-imposed/#25fb23a52360" target="_blank" rel="noreferrer noopener">Also read: Nigerian Security Forces Open Fire On Protesters In Lagos, 24-Hour Statewide Curfew Imposed</a>



<div class="wp-block-image is-style-default"><figure class="alignright size-large is-resized"><img loading="lazy" decoding="async" src="https://www.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229172440.jpg" alt="" class="wp-image-48560" width="400" height="267" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229172440.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229172440-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229172440-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229172440-600x400.jpg 600w" sizes="(max-width: 400px) 100vw, 400px" /><figcaption>(Photo by BENSON IBEABUCHI/AFP via Getty Images)</figcaption></figure></div>



The protests began on October 7 with calls to disband an&nbsp;<a href="https://www.aljazeera.com/news/2020/10/20/end-sars-24-hour-curfew-imposed-in-lagos-as-protests-continue#:~:text=Nationwide%20protests%20have%20continued%20since,(SARS)%2C%20which%20has%20long" target="_blank" rel="noreferrer noopener">infamous police unit</a>&nbsp;that had long been accused of extortion, torture and extra-juditial killings, the Special Anti-Robbery Squad (SARS).



SARS was dissolved on October 11, but quickly replaced by the Special Weapons and Tactics team, and demonstrations continued, only to be met with “<a href="https://www.amnesty.org/en/latest/news/2020/10/nigeria-authorities-must-initiate-genuine-reform-of-the-police/" target="_blank" rel="noreferrer noopener">excessive force</a>” by government security forces, according to Amnesty International, including the use of tear gas, water cannons and live ammunition against protesters.



Almost 2,000 prison inmates escaped after&nbsp;<a href="https://apnews.com/article/shootings-police-police-brutality-lagos-robbery-1dabdf270ca2f6937b0ddc49fa0ad84f" target="_blank" rel="noreferrer noopener">crowds</a>&nbsp;stormed two prisons Monday in Benin City in southern Nigeria, according the Associated Press.



On Tuesday, state officials&nbsp;<a href="https://www.nbcnews.com/news/world/lagos-imposes-indefinite-curfew-curb-nigeria-protests-police-deploy-anti-n1244030" target="_blank" rel="noreferrer noopener">deployed</a>&nbsp;anti-riot forces to protect police and correctional facilities which some demonstrators had begun targeting, and announced a nationwide 24-hour curfew in response to the unrest.



At least 15 people have&nbsp;<a href="https://www.amnesty.org/en/latest/news/2020/10/nigeria-authorities-must-initiate-genuine-reform-of-the-police/" target="_blank" rel="noreferrer noopener">died</a>&nbsp;during the demonstrations, according to Amnesty International.



<h4 class="wp-block-heading">KEY BACKGROUND</h4>



What began as mostly peaceful protests have turned increasingly violent in recent days. Groups of armed young men who are reportedly being paid to&nbsp;<a href="https://www.theguardian.com/world/2020/oct/20/nigeria-protests-lead-to-24-hour-lagos-curfew" target="_blank" rel="noreferrer noopener">discredit</a>&nbsp;the anti-police movement by powerful interests in Nigeria have allegedly been attacking the demonstrators, fueling the unrest, and provoking the government&#8217;s response. Tens of thousands of people have joined in the demonstrations across the country, but as they grow more violent, government security forces have responded in kind. The Nigerian Army said it was standing by in case “<a href="https://www.theguardian.com/global-development/2020/oct/15/army-standby-police-brutality-protests-nigeria" target="_blank" rel="noreferrer noopener">subversive</a>&nbsp;elements and troublemakers” continue to cause problems for the police.



<h4 class="wp-block-heading">BIG NUMBER</h4>



21 Million.&nbsp;That’s how many people&nbsp;<a href="https://www.cfr.org/blog/home-over-half-population-nigerias-cities-continue-boom" target="_blank" rel="noreferrer noopener">live</a>&nbsp;in the state of Lagos, according to the Council on Foreign Relations, all of whom are&nbsp;<a href="https://www.nbcnews.com/news/world/lagos-imposes-indefinite-curfew-curb-nigeria-protests-police-deploy-anti-n1244030" target="_blank" rel="noreferrer noopener">supposed</a>&nbsp;to adhere to the curfew. That’s more people than live in&nbsp;<a href="https://www.census.gov/quickfacts/NY" target="_blank" rel="noreferrer noopener">New York State</a>.&nbsp;



<h4 class="wp-block-heading">CRUCIAL QUOTE</h4>



I have watched with shock how what began as a peaceful #EndSARS protest has degenerated into a <a rel="noreferrer noopener" href="https://twitter.com/jidesanwoolu/status/1318504576937578497?s=20" target="_blank">monster</a> that is threatening the well-being of our society. Lives and limbs have been lost as criminals and miscreants are now hiding under the umbrella of these protests to unleash mayhem on our state.” said Babajide Sanwo-Olu, Governor of Lagos.



<div class="wp-block-image is-style-default"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1281525122.jpg" alt="" class="wp-image-48564" width="615" height="410" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1281525122.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1281525122-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1281525122-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1281525122-600x400.jpg 600w" sizes="(max-width: 615px) 100vw, 615px" /><figcaption> People protest against recent violence at demonstrations in Nigeria on October 21, 2020 in New York City. (Photo by Spencer Platt/Getty Images)</figcaption></figure></div>



<div class="wp-block-image is-style-default"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229199549.jpg" alt="" class="wp-image-48562" width="628" height="418" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229199549.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229199549-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229199549-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229199549-600x400.jpg 600w" sizes="(max-width: 628px) 100vw, 628px" /><figcaption>Protestors attend a demonstration outside the Nigerian High Commission against police brutality in Lagos in London on October 21, 2020. (Photo by DANIEL LEAL-OLIVAS/AFP via Getty Images)</figcaption></figure></div>



<div class="wp-block-image is-style-default"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229214931.jpg" alt="" class="wp-image-48563" width="646" height="430" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229214931.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229214931-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229214931-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229214931-600x400.jpg 600w" sizes="(max-width: 646px) 100vw, 646px" /><figcaption>Activists protesting police brutality by the Nigerian Special Anti-Robbery Squad (SARS) march along Whitehall in London, England, on October 21, 2020. (Photo by David Cliff/NurPhoto via Getty Images)</figcaption></figure></div>



<div class="wp-block-image is-style-default"><figure class="aligncenter size-large is-resized"><img loading="lazy" decoding="async" src="https://www.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229197906.jpg" alt="" class="wp-image-48561" width="637" height="424" srcset="https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229197906.jpg 1024w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229197906-300x200.jpg 300w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229197906-768x512.jpg 768w, https://cms.forbesafrica.com/wp-content/uploads/2020/10/GettyImages-1229197906-600x400.jpg 600w" sizes="(max-width: 637px) 100vw, 637px" /><figcaption>Nigerians based in South Africa protest outside their embassy in Pretoria on October 21, 2020 in solidarity with Nigerian youth. (Photo by PHILL MAGAKOE/AFP via Getty Images)</figcaption></figure></div>



<h4 class="wp-block-heading">FURTHER READING</h4>



<a href="https://apnews.com/article/shootings-police-police-brutality-lagos-robbery-1dabdf270ca2f6937b0ddc49fa0ad84f" target="_blank" rel="noreferrer noopener">Nearly 2,000 inmates escape in attacks on Nigeria prisons</a>&nbsp;(Associated Press)



<a href="https://www.aljazeera.com/news/2020/10/20/end-sars-24-hour-curfew-imposed-in-lagos-as-protests-continue#:~:text=Nationwide%20protests%20have%20continued%20since,(SARS)%2C%20which%20has%20long" target="_blank" rel="noreferrer noopener">Nigeria deploying anti-riot police as curfew imposed in Lagos</a>&nbsp;(Al Jazzera)



<a rel="noreferrer noopener" href="https://www.theguardian.com/world/2020/oct/17/nigerias-anti-police-brutality-protests-bring-lagos-to-standstill" target="_blank">Nigeria&#8217;s anti-police brutality protests bring Lagos to standstill</a>&nbsp;(The Guardian)



&#8211;by Daniel Cassady, Forbes Staff

Nigeria 1

Here’s Why Thousands Of Nigerians Are Protesting In Lagos

Researchers at the Mayo Clinic have have <a rel="noreferrer noopener" href="https://www.mayoclinicproceedings.org/article/S0025-6196(20)30934-4/fulltext" target="_blank">found</a> a link between Google searches and Covid-19 cases that could help experts predict and respond to Covid-19 outbreaks sooner — this link was evident up to 16 days before the first cases were reported, which could give officials an edge when allocating resources to areas in need. 



<h4 class="wp-block-heading">KEY FACTS</h4>



Researchers found a strong relationship between certain Google search terms, examined using Google Trends, and Covid-19 outbreaks in parts of the U.S.,



There was a strong relationship between some keywords — including “Lysol,” “Face mask,” “loss of smell,” and “coronavirus testing center” — and outbreaks in an area, sometimes up to 16 days before cases were first reported.&nbsp;



The data, which is publicly available, could be used by officials to respond more quickly to outbreaks — “any delay in information could lead to missed opportunities to improve preparedness,”&nbsp;<a href="https://newsnetwork.mayoclinic.org/discussion/analyzing-web-searches-can-help-experts-predict-respond-to-covid-19-hot-spots/" target="_blank" rel="noreferrer noopener">says</a>&nbsp;Dr. Bydon, the study’s senior author.



Typically, traditional methods of surveillance, which include testing and public health reporting, lag behind the actual incidence of disease, which Dr. Bydon says makes this finding a “great way of helping to understand where future hot spots will emerge.”&nbsp;



<h4 class="wp-block-heading">KEY BACKGROUND</h4>



In recent years, numerous studies have identified internet surveillance, particularly through keyword search trends, as a useful tool in predicting outbreaks of infectious disease. The information is cheap, if not free, to gather and available in real time, a significant change to traditional methods that can sometimes take weeks to gather and process accurately. This makes it a useful supplement to existing public health surveillance.



<h4 class="wp-block-heading">TANGENT&nbsp;</h4>



Google tried — and&nbsp;<a href="https://www.wired.com/2015/10/can-learn-epic-failure-google-flu-trends/" target="_blank" rel="noreferrer noopener">failed</a>&nbsp;spectacularly — to predict flu outbreaks based on search trends a little over a decade ago. It serves as an important reminder that such predictive mechanisms can, and do, fail, and should be used to supplement, and not replace, existing surveillance.&nbsp;



<h4 class="wp-block-heading">FURTHER READING</h4>



<a href="https://www.mayoclinicproceedings.org/article/S0025-6196(20)30934-4/fulltext" target="_blank" rel="noreferrer noopener">Correlations Between COVID-19 Cases and Google Trends Data in the United States: A State-by-State Analysis</a>&nbsp;(Mayo Clinic Proceedings)



<a rel="noreferrer noopener" href="https://www.wired.com/2015/10/can-learn-epic-failure-google-flu-trends/" target="_blank">What We Can Learn From the Epic Failure of Google Flu Trends</a> (Wired)



-by Robert Hart, Forbes Staff

Coronavirus – Stuttgart

Google Searches Can Help Predict Covid-19 Hot Spots

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After more than a decade of annual losses, Tesla&nbsp;<a href="https://www.forbes.com/companies/tesla" target="_blank" rel="noreferrer noopener">TSLA</a>&nbsp;<a href="https://www.forbes.com/companies/tesla">+0.2%</a>&nbsp;extended its profitability streak to five consecutive quarters, a company first, as increased sales of Model 3 and Model Y electric vehicles and pollution credits boosted net income to $331 million, its highest to date.



The Palo Alto, California-based company led by billionaire entrepreneur&nbsp;<a href="https://www.forbes.com/profile/elon-musk/">Elon Musk</a>&nbsp;<a href="https://ir.tesla.com/" target="_blank" rel="noreferrer noopener">reported</a>&nbsp;earnings per share of 27 cents in the quarter, up from 16 cents a year ago. Revenue jumped 39% to $8.77 billion from $6.3 billion in 2019’s third quarter. As usual, sales of emissions credits to other automakers fattened the quarterly profits. Tesla reported $397 million of credit sales, essentially free money that goes a long way toward keeping the company in the black.&nbsp;



The upbeat results come after Tesla said this month that <a href="https://www.forbes.com/sites/alanohnsman/2020/10/02/teslas-electric-car-shipments-jump-44-as-production-rebounds-from-coronavirus-slump/">deliveries of its electric cars and crossovers jumped 44%</a> in the quarter to the highest in company history, aided by the new Shanghai plant. Even as the company works to ramp up that $2 billion facility, it’s also begun construction of a $4 billion Gigafactory in Berlin and a new U.S. Gigafactory that will be built near Austin, Texas, at a cost of about $1 billion. Even with added capacity in China, it’s unclear whether Tesla will hit Musk’s goal of selling 500,000 vehicles this year. 



“We have the capacity installed to produce and deliver 500,000 vehicles this year,” Tesla said in a letter to investors. “While achieving this goal has become more difficult, delivering half a million vehicles in 2020 remains our target. Achieving this target depends primarily on quarter over quarter increases in Model Y and Shanghai production, as well as further improvements in logistics and delivery efficiency at higher volume levels.”



The results were generally higher than analysts anticipated. Tesla shares rose about 3.3% in after-hours Nasdaq <a rel="noreferrer noopener" href="https://www.forbes.com/companies/nasdaq" target="_blank">NDAQ</a> <a href="https://www.forbes.com/companies/nasdaq">+2.6%</a> trading to $436.75. The stock was little changed at the close, ahead of earnings, at $422.64. 



ird Bridge Group in New York. “Not super surprising&nbsp;given how much they beat on deliveries, which was revealed earlier this month.”



Tesla’s operating margin of 9.2% was slightly below expectations, likely reflecting a vehicle mix that has skewed toward the Model 3 and Model Y, the company’s lowest margin vehicles, and away from the pricier Model S and Model X, Shields said.



Sales of pollution credits, including California zero-emission vehicle and U.S. CAFE credits, have become a lucrative source of revenue for Tesla as they are generated for each electric vehicle it sells. The $397 million received in the third quarter brings its year-to-date credit sales total to $1.18 billion, double 2019’s full year total.



“The regulatory credits business was stronger than our expectations,” Tesla CFO Zachary Kirkhorn said in a conference all. “We are tracking to more than double this year compared to last.”



Fourth-quarter deliveries will be critical to watch “given that they have softened their language around the previously stated goal of 500 K for the year,” he said. To reach that target, Tesla will have to get just over 180,000 vehicles to customers in the final quarter of 2020.



The company had about $14.5 billion of cash at of the end of the quarter and said it “should have sufficient liquidity to fund our product roadmap, long-term capacity expansion plans and other expenses.”



“We are currently building Model Y capacity at Gigafactory Shanghai, Gigafactory Berlin and Gigafactory Texas, and remain on track to start deliveries from each location in 2021,” the company said. “Tesla Semi deliveries will also begin in 2021. We continue to significantly invest in our product roadmap.”



Despite the pandemic, Musk’s wealth has surged this year because of his nearly 25% ownership stake in Tesla. Forbes estimates his net worth at <a href="https://www.forbes.com/profile/elon-musk/">$88.7 billion</a> as of Oct. 21.



-By Alan Ohnsman, Forbes Staff

Elon Musk visits construction site of the Tesla Giga Factory

Tesla Stays In The Black For A Fifth Quarter, Buoyed By Emissions Credit Sales

The Billionaire Who Wanted To Die Broke Is Now Officially Broke | Forbes

Author: Forbes

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