The Food and Drug Administration has approved remdesivir, known by the brand name Veklury as the first and only treatment for coronavirus in the United States. The drug, manufactured by Gilead Sciences to treat ebola, was granted emergency approval in May.

Gilead Sciences said that the drug's approval was based on the results of three peer-reviewed studies. The company said hospitalized patients treated with the antiviral medication saw their recovery time reduced by an average of five days.

The drug is administered via an IV and should only be given to patients in a hospital or healthcare setting.

"Since the beginning of the COVID-19 pandemic, Gilead has worked relentlessly to help find solutions to this global health crisis. 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 Daniel O'Day, Chairman, and Chief Executive Officer, Gilead Sciences. "The speed and rigor with which Veklury has been developed and approved in the U.S. reflect the shared commitment of Gilead, government agencies, and clinical trial investigators to advance well-tolerated, effective treatment options for the fight against COVID-19. We will continue to work at speed with the aim of enhancing patient outcomes with Veklury to ensure all patients with COVID-19 have the best chance at recovery."

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