Politics

Watch live: Trump speaks after FDA approves Gilead drug for coronavirus treatment

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President Donald Trump is expected to deliver a speech at a recognition ceremony from the White House on Friday as the coronavirus continues to infect people.

The remarks came after Trump earlier announced that Gilead drug remdesivir had gotten emergency approval for coronavirus treatment from the FDA.

The spread of the virus has upended markets and caused an economic disaster fueled by the partial shutdown of the U.S. economy.

To deal with the crisis, officials at the federal, state and local levels have urged the closure of non-essential businesses. Additionally, Congress has allocated multiple rounds of funding to small businesses and individuals to stave off economic losses.

Trump-appointed health officials have issued guidelines on social distancing to minimize the spread of the virus, and a vaccine is in the works, but could take up to 18 months.

The pandemic itself might last for up to two years, according to a report published Thursday from scientists at the University of Minnesota. They said that the coronavirus is more contagious than the flu, has a higher rate of asymptomatic transmission, and would continue to circulate after the first wave this spring.

The outbreak has spread to dozens of countries globally, with more than 3.2 million confirmed cases worldwide and over 233,704 deaths so far, according to data from Johns Hopkins University. There are at least 1 million cases in the United States and at least 63,019 deaths, according to the latest tallies.

-- CNBC's Chloe Taylor contributed to this report.

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