The Therapeutic Goods Administration (TGA) granted provisional approval for use of the drug to treat adults and adolescent patients with severe coronavirus symptoms who have been hospitalised.

The drug has already been approved for use in countries like the United States where it is manufactured and also in India, Japan and by the European Union.

Initial tests have shown that it has been able to improve the conditions of the seriously ill people in hospital, meaning less strain on the health system. 

"I know the Australian government has looked to get its own supply, but the US really went very hard in gobbling up the entire global supply almost," he said.

The federal Health and Human Services Department announced the US had bought up what amounts to the entire global supply of Remdesivir, the only drug so far shown to help recovering patients.

Gilead is the only company allowed to manufacture remdesivir, and the US purchase amounted to 100 per cent of Gilead's projected production for July, 90 per cent of production in August, and 90 per cent of production in September.