Coronavirus Treatment Drugs Market Players Merck and Ridgeback Biotherapeutics Report Development of Covid-19 Drug

 

Coronavirus Treatment Drugs Market

The pandemic of COVID-19 continues to expand and impact over 175 countries and territories worldwide, which is expected to propel growth of the coronavirus treatment drugs market. Globally, as of 10:16am CET, 10 March 2021, there have been 117,132,788 confirmed cases of COVID-19, including 2,600,839 deaths, as reported to the World Health Organization.

As of 9 March 2021, a total of 268,205,245 vaccine doses have been administered. As the COVID-19 vaccine rolls out across the world, a new drug has come forward to help fight the pandemic. Prominent players in the coronavirus treatment drugs market Merck and Ridgeback Biotherapeutics reported development of the drug, molnupiravir for the treatment of Covid-19. Both the companies reported that the drug, in a recent phase 2 trial reduced the severity of the flu.

The Middle East is expected to witness significant growth in the coronavirus treatment drugs market due to several R&D activities. In February 2021, Tel Aviv’s Ichilov Medical Center reported completion of phase 1 trials that assessed the efficacy of EXO-CD24 in the treatment of Covid-19. The drug demonstrated significant recovery in numerous moderate-to-serious cases of COVID-19.

The coronavirus treatment drugs market players must focus on developing affordable drugs for the treatment of Covid-19. A recent study highlighted the effect of Covid-19 on people with asthma or chronic obstructive pulmonary disease. The study found that such patients were underrepresented among hospital patients admitted with Covid-19. This led to the conclusion that budesonide, a drug used in the treatment of people with asthma or COPD from getting symptoms has potential in the treatment of Covid-19.

However, not all drugs, which were thought to have potential in the treatment of Covid-19 have demonstrated their merit, which has adversely impacted growth of the coronavirus treatment drugs market. Recently, the U.S, Food and Drug Administration warned against using ivermectin, a drug that kills parasites, to treat COVID-19. The regulatory body was against trying it out due to potential negative side effects that include, nausea, vomiting, diarrhea, hypotension, allergic reactions, dizziness, ataxia, seizures, coma, and even death.

The U.S. FDA also warned against use of anti-parasitic drugs for the treatment of Covid-19. In March 2021, the FDA pointed out that use of Ivermectinm is only approved in horses and it is not approved for human use.  

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