Speaking to the Health and Social Care Select Committee, Mr Hancock stated the Government is buying up a new drug which could possibly have an effect on COVID-19.
He said: "Potential treatments as they are coming down the track.
"Everyone is buying up hydroxychloroquine in case the clinical trials demonstrate that it is a very effective treatment because that is what the early signs say."
Despite the optimism, a recent study suggested the drug may not work on patients with COVID-19.
Dr. Paul Offit, an infectious disease specialist at Children's Hospital of Philadelphia said: "This provides evidence that hydroxychloroquine does not apparently treat patients with COVID-19.

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