President Donald Trump in a press conference on Thursday said the Food and Drug Administration is fast-tracking efforts to approve an antiviral therapy, best known for treating malaria, for use in coronavirus cases. 

The drug, hydroxychloroquine, was developed more than a half-century ago and is approved for treating malaria, arthritis, and other ailments. Reports out of China and Italy suggest the drug may help, but there is no hard data yet.

"We're going to be able to make that drug available almost immediately," Trump said. 

The FDA is working to conduct a "large, pragmatic clinical trial" quickly to confirm the drug's benefit to coronavirus patients, said Commissioner Dr. Stephen Hahn.

He also tempered the president's optimism about the still-untested solution. 

"What's also important is not to provide false hope," he said. "We may have the right drug, but it might not be in the appropriate dosage form right now, and it might do more harm than good."

New antiviral therapies face a shorter and less arduous approval process than vaccines, several of which are under development with 12 to 18-month timelines.  

"The therapies are something we could move on much faster potentially," Trump said. 

He claimed the administration "slashed red tape" to develop new vaccines and therapies.

The president also held out on confirming whether he would invoke the Defense Production Act, which he signed on Wednesday, to mandate the production of needed medical supplies such as N95 respirators and surgical masks

"If we find that we need something, then we will do that," he said.  

Trump repeated that he was open to the federal government buying equity stakes in the airline, cruise, hospitality, and other industries hurt by the outbreak. 

The press conference opened with more controversial language placing the blame squarely on China for the outbreak, despite concerns voiced about potentially exacerbating a backlash against Asian Americans.

"We continue our relentless effort to defeat the Chinese virus," Trump said.

Share:
More In Politics
Sacramento Mass Shooting Raises Questions on How to Curb Rising Gun Violence
After a devastating mass shooting in Sacramento over the weekend that killed six people and wounded a dozen more, arguments about gun reform are also resurfacing. David Pucino, deputy chief counsel at Giffords Law Center to Prevent Gun Violence, joined Cheddar News to talk about efforts to curb gun violence such as community intervention programs — and the more that needs to be done by lawmakers. "One thing that would be really important is at the federal level closing the loopholes that allow for private sales to go forward without a background check," he noted.
Stocks Rally to End Friday Near Session Highs
Christopher Wolfe, CIO at First Republic Private Wealth Management, joins Cheddar News' Closing Bell, where he says he is surprised that the first quarter was the first down period in a long time, but adds that the second quarter could be difficult with a lot of volatility expected.
Major Indexes End Wednesday Near Session Lows
Jeffrey Small, President of Arbor Financial, joins Chedar News' Closing Bell, where he breaks down why stocks closed near session lows on Wednesday and tells viewers what to expect ahead of next earnings season.
Washington Governor Jay Inslee Signs Uber, Lyft Driver Pay Guarantee Into Law
Uber and Lyft drivers are cruising in Washington State, the first U.S. state to set an earnings standard for drivers for the ride-hailing companies. Governor Jay Inslee signed the new minimum pay standard into law Thursday, which also gives drivers access to perks like paid sick time and family medical leave. John Logan, Director of Labor and Employment Studies at San Francisco State University, joins Cheddar News' Closing Bell to discuss.
Cannabis Legalization Bill Passes House Committee
Jeremy Berke, senior reporter on the cannabis industry for Business Insider, joins Cheddar Politics to discuss developments in cannabis legalization at the federal level. He helps break down the bill and what legalization efforts might look like in the Senate.
How the New 'Don't Say Gay' Law Will Impact Floridians
Selene San Felice, Tampa Bay reporter for Axios Local, and Jennifer Levi, director of the Transgender Rights Project at GLBTQ Legal Advocates & Defenders (GLAD) join Cheddar Politics to discuss the impact of the new law targeting LGBTQ communities in Florida schools.
Russian Space Chief: Sanctions Could Imperil Space Station
The head of Russia’s space program says the future of the ISS hangs in the balance after the U.S., EU, and Canadian space agencies missed a deadline to meet Russian demands for lifting sanctions on Russian enterprises and hardware.
Load More