Coronavirus drug Remdesivir to run $3120 for insured patients

Gilead Prices Covid-19 Drug Candidate Remdesivir at $2,340 Per Patient in US

Gilead Sciences Inc said it is pricing remdesivir at $390 per vial for people covered by government healthcare in the U.S. and other developed countries.

Gilead Sciences introduced the selling price Monday for remdesivir, and explained the selling price would be $three, 120 for individuals with personal insurance policies.

"We should have sufficient supply. but we have to make sure it's in the right place at the right time", O'Day said. We also balanced that with our longer-term responsibilities: "to continue with our ongoing work on remdesivir, to maintain our long-term research in antivirals and to invest in scientific innovation that might help generations to come". The drugmaker's pricing decision is consequential because it sets a precedent for how much future medicines for COVID-19 may cost.

Gilead has entered into an agreement with the U.S. Department of Health and Human Services (HHS) so that the HHS and states can manage allocation to hospitals until the end of September.

And the Foster City, California, biopharmaceutical company is working with generic-drug manufacturers on lowering the cost of treatment in developing countries.

The coronavirus crisis in the U.S.is escalating as new cases of infection reach record highs. "Remdesivir, our investigational treatment, is the first antiviral to have demonstrated patient improvement in clinical trials for COVID-19 and there is no playbook for how to price a new medicine in a pandemic".

The drug interferes with the coronavirus's skill to duplicate its genetic product.

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About 15 experimental COVID-19 vaccines are in various stages of human study worldwide. To stop it replicating, the virus is made inactive by removing certain genes.

To date, Gilead has donated about a quarter of a million treatment courses of remdesivir, and it is bolstering supply rapidly.

A lower price - $390 per vial - will be offered to other governments in developed countries around the world, Gilead added.

The Institute for Clinical and Economic Review (ICER), a nonprofit group that analyzes drug prices, said remdesivir would be cost-effective in a range of $4,580 to $5,080 if it saved lives. But recent news that a cheap steroid called dexamethasone improves survival means remdesivir should be priced between US$2520 ($3677) and US$2800 ($4086), the group said.

In the interview, O'Day said $1 per day was "not a realistic price point".

'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". "Public funding was indispensable, and government scientists led the early drug discovery team".

"The price puts to rest any notion that drug companies will "do the right thing" because it is a pandemic", Dr. Peter Bach, a wellness coverage specialist at Memorial Sloan Kettering Most cancers Heart in NY explained in an e mail. All Legal rights Reserved.

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