Gilead sets price for coronavirus drug remdesivir at $3400, sparking criticism

Gilead will charge $2,340 for its COVID-19 treatment, 90% of which will stay in the United States until the fall

Although there is still room for debate on whether remdesivir's price is appropriate, Gilead said the "degree of speculation" over its costs are understandable. "In normal circumstances, we'd have priced this medicine in accordance with value".

Results from a trial sponsored by the National Institutes of Health (NIH) among about 1,000 patients found remdesivir can cut the length of hospital stays by an average of four days.

"We believe that we had to really deviate from the normal circumstances" and price the drug to ensure wide access rather than based exclusively on value to patients, he said.

In an interview with The Wall Street Journal, O'Day said the US was the only developed country to get two prices. Because most patients are expected to receive a 5-day treatment course using 6 vials, this equates to approximately $2340 per patient.

In 2019, the company defended what many called "price-gouging" for its HIV drug Truvada to a House committee, claiming the high cost pays for the research behind its development, the Washington Post reported a year ago. As NewNowNext previously reported, the company patented Truvada, the brand-name version of Pre-exposure prophylaxis (PrEP), a preventative drug that drastically increases the risk of new HIV infections when used properly.

US Department of Health and Human Services (HHS) Secretary Alex Azar said in a Monday statement that US President Donald Trump has "struck an unbelievable deal to ensure Americans have access to the first authorized therapeutic for COVID-19".

According to the plan announced, countries in the developing world will pay much less for the drugs, than their counterparts in the developed world.

OnePlus Nord Announced Officially, Pricing Teased to Be Under $500
After a lot of hype and a large of leaks, OnePlus today confirmed that it would sell these devices under the OnePlus Nord banner. An under-display fingerprint scanner is on board and we expect the handset to come with at least 128GB of storage.

"In the US, while new cases are rising, they are not resulting in hospitalization at rates seen in the first half".

During an interview Monday, the company's CEO Daniel O'Day defended the company's pricing.

Gilead Sciences disclosed its pricing for the COVID-19 treatment remdesivir on Monday, saying it will charge $3,120 for patients with private health insurance. The drug is administered intravenously to treat severe cases of the respiratory illness.

Because of those data, clinicians are viewing dexamethasone as the standard of care of COVID-19, with remdesivir merely an "adjunct" to it, ICER suggested.

"Remdesivir should be in the public domain", Peter Maybarduk, a lawyer for consumer group Public Citizen, told the Associated Press. The price "will make sure all patients around the world have access to this medicine".

The New York-listed company claimed the shortened recovery would save hospitals about $12,000 per patient. "The price might have been fine if the company had demonstrated that the treatment saved lives". The HHS won a lawsuit against Gilead in February, arguing the Centers for Disease Control and Prevention (CDC) holds the patent for Truvada and a related pre-exposure prophylaxis (PrEP) drug, Descovy, since they were developed from publicly funded HIV research.

Related News:

  • Province increases outdoor gathering limit to 200

    Province increases outdoor gathering limit to 200

    Deena Hinshaw, Alberta's chief medical officer of health, provided her latest COVID-19 update at a news conference on Tuesday. All public health measures remain in place, however, including physical distancing between people of different households.

    Barcelona sell another player after the sale of Arthur Melo

    The purchase value may increase of maximum 10 million euros on achieving given conditions during the course of the contract. " Juventus and the player have signed a five-year contract of employment valid until June 30, 2025", Juventus announced.
    GOP Sen Suggests Trump Wear Mask

    GOP Sen Suggests Trump Wear Mask

    Doocy even suggested an updated play on Trump's campaign slogan. Look, anecdotally, I was in the epicenter of this. The president has millions of admirers.
  • Rob Kardashian is ''Back Baby'': See How He Celebrated Khloe Kardashian's Birthday

    Rob Kardashian is ''Back Baby'': See How He Celebrated Khloe Kardashian's Birthday

    In other news, Khloe shared some photos from her 36th birthday party on Instagram, where she has 115 million Instagram followers. He also shared a photo of himself with Scott Disick , Tristan Thompson and Tristan's friend Savas Oguz .
    Detroit cop plows into crowd during Black Lives Matter rally

    Detroit cop plows into crowd during Black Lives Matter rally

    The protest started around 4:30 p.m . in response to the death of George Floyd, the Detroit News reported. One of the protesters said the officer "ran over a couple people's arms, feet".
    Google Photos Turns Off Backups for Third-Party Services

    Google Photos Turns Off Backups for Third-Party Services

    As a result, Google announced today that it is limiting what Google Photos will automatically back up on your Android device. Don't fret, though; if you're clever, you can reenable the auto-backup option for all of your device's photo folders.
  • Brooklyn Nets players test positive for COVID-19

    Brooklyn Nets players test positive for COVID-19

    Dinwiddie said he tested negative for the virus multiple times after returning to Brooklyn and took part in a couple practices. Cases have been spiking in recent days, both across the country as a whole and in several states.
    Sacha Baron Cohen gatecrashes a right-wing gig

    Sacha Baron Cohen gatecrashes a right-wing gig

    Not only that, Cohen's security were there with express orders to stop anyone from getting him off the stage or pulling the power. After video footage spread on social media, Variety later confirmed that the singer was in fact Baron Cohen.
    Florida and Texas reverse reopening as US cases pass 2.5 million

    Florida and Texas reverse reopening as US cases pass 2.5 million

    Cases in McDonald County, Missouri, more than tripled after Tyson Foods conducted facility-wide testing at a chicken plant there. Newly reported cases per day have risen on average about 60% over the past two weeks, according to an Associated Press analysis.
  • Victoria reports 64 new infections, Queensland shuts its border

    Victoria reports 64 new infections, Queensland shuts its border

    The double-digit increases in the number of new cases of coronavirus in Victoria extend into the 15 straight day. If they do, they must undergo mandatory quarantine in a hotel at their own expense for a minimum of 14 days.
    The Snapdragon 875 will reportedly support 100W fast charging, cost dearly

    The Snapdragon 875 will reportedly support 100W fast charging, cost dearly

    It could put future Wear OS smartwatches ahead of the Apple Watch 6 - at least in terms of performance. Qualcomm is actually shipping two versions, the Snapdragon Wear 4100+, and the Snapdragon Wear 4100.
    US Supreme Court rules to uphold abortion rights

    US Supreme Court rules to uphold abortion rights

    Abortion rights supporters were quick to hail today's decision but cautioned that abortion rights remain under attack. Meanwhile, Missouri's admitting-privilege requirement has survived several court challenges, most recently when U.S.

Most liked

Africa Cup Of Nations Postponed Over COVID-19
The Chan-which was also due to be held in Cameroon-had been indefinitely postponed due to the onset of Covid-19. Postponing the tournament for 12 months was the wise option.

Fauci Makes Dire Forecast 'If This Doesn't Turn Around'
The hearing comes as several states struggle to contain the virus as they start to reopen amid a nationwide jump in case counts. He noted that remdesivir, an antiviral medication, has shown a reduction in hospitalization days among COVID-19 patients.

Leroy Sane set to leave Man City for Bayern Munich
Manchester City are interested in Bayern Munich winger Coman and midfielder Thiago, according to French outlet Foot Mercato . The Germany global made his first Premier League appearance of the season as a substitute against Burnley last week.

Xavi admits preparing to become Barcelona coach
Luis Suarez , who scored a brace in the draw, told reporters after the game that the club's coaches were to blame for Barcelona's poor away form.

Cole County confirms 11 active COVID cases
Almost 50 new people daily tested positive last week, a fivefold increase compared to the first week of the month. As we start to rebound from the impact of COVID-19, many Montanans need financial help.

Judge Blocks Release of Tell-All Book by Trump’s Niece, Mary
He added: "Short of corrective action to immediately cease their egregious conduct, we will pursue this case to the very end". Both a representative for Simon & Schuster and an attorney for Mary Trump told ABC News they intend to appeal the ruling.

COVID-19 outbreaks declared at 4 Edmonton restaurants
All public health measures remain in place, however, including physical distancing between people of different households. Forty-one Albertans were in hospital with the virus, nine of whom were in intensive care units.

TV pioneer Carl Reiner dies at age 98
Mel Brooks paid tribute to his good friend and fellow comedy legend Carl Reiner , who passed away Monday at age 98. He recounted his childhood and creative journey in the 2013 book, I Remember Me .

Cinema giants delay reopening in United Kingdom and USA as movie releases stall
In a statement, the company said the move was "in line with recent adjustments to the schedule of upcoming movie releases". The world's second-largest cinema chain had previously announced cinemas in both countries would open on 10 July.

'Golden State Killer' suspect pleads guilty to murder in California
Because of California's statue of limitations, he was not charged for the rapes. The prosecutors said they will hold a news conference Monday at 3 p.m. (6 p.m.

Brandi's Exotic Show Lounge to reopen after COVID-19 outbreak
Visits are care homes will begin once all the safety plans are in place, and progress will be reviewed monthly. As of Tuesday (June 30), visitors will once again be allowed in longterm care and assisted living facilities.

New H1N1 Influenza Virus Detected - Expert Reaction
Pigs are often intermediate hosts or " mixing vessels " for viruses with pandemic potential to develop in. They also found that pig farm workers had elevated levels of the virus in their blood.

Indias first COVID-19 vaccine COVAXIN gets nod for human trials
As of Tuesday, more than 10 million cases of the virus have been recorded worldwide, leading to over half a million deaths. Phase one trials are small-scale, usually involving few participants, to assess whether the vaccine is safe for humans.

Vancouver will not be a hub city for the National Hockey League playoffs
"Although Vancouver won't be a hub city, we are still excited to see hockey start up again", the team said in a statement. We are proud of the progress B.C. has made, and we have been clear that we will not bend our rules and risk this progress.

European Union to decide to which 'safe countries' external borders will be opened
The EU will also lift travel restrictions for Chinese residents on July 1, on the condition that Beijing reciprocates the action. They pushed to have a short list of countries with low infection rates, a good health service and reliable health data.