Gilead Prices Virus Treatment at $3K

  • Gilead Prices Virus Treatment at $3K

Gilead Prices Virus Treatment at $3K

Aimed at "broad and equitable" access at a time of urgent global need, the company has priced it at $390 per vial or $2,340 per five-day course (six vials), the most common treatment regimen for COVID-19 patients, substantially below what some analysts have been projecting.

The American drug company producing an antiviral Food and Drug Administration-approved drug that is being used to treat severe cases of coronavirus, says patients who are covered by government programs like Medicaid will be charged $2,340 for a typical five-day treatment course.

Gilead also said Monday it had reached agreement with the Department of Health and Human Services to manage the allocation of remdesivir in the USA through September.

After this period, once supplies are less constrained, HHS will stop managing the allocation, Gilead said. Two countries are doing that for around $600 per treatment course.

The drug interferes with the virus's ability to copy its genetic material. In a USA federal government-led study, remdesivir shortened restoration time by 31% - 11 times on regular as opposed to 15 times for individuals supplied just typical treatment.

The price tag is below the $5,080 per course recommendation by US drug pricing research group, the Institute for Clinical and Economic Review (ICER), last week. But recent news that a cheap steroid called dexamethasone improves survival means remdesivir should be priced between $2,520 and $2,800, the group said.

Gilead Sciences Inc (NASDAQ:GILD) has announced it will charge thousands of dollars for its investigational drug remdesivir, temporarily approved in certain countries as coronavirus treatment.

The drug is has crisis use authorization in the USA and Gilead has used for total acceptance.

'This is a high price for a drug that has not been shown to reduce mortality, ' Dr Steven Nissen, chairman of cardiovascular medicine at the Cleveland Clinic said. "Given the serious nature of the pandemic, I would prefer that the government take over production and distribute the drug for free".

Peter Maybarduk, a attorney at the buyer team Community Citizen, known as the selling price "an outrage".

"Remdesivir should be in the public domain" simply because the drug gained at the very least $70 million in general public funding towards its growth, he explained.

Just days after getting conditional approval for its coronavirus drug remdesivir in Europe, Gilead has announced pricing for the US and other developed countries, charging different rates for the USA federal government and private insurers.

'The price might have been fine if the company had demonstrated that the treatment saved lives.

O'Day noted that by the end of 2020, Gilead expects to have spent more than $1 billion on research and development on the drug, with its commitment expected to last "through 2021 and beyond".