Gilead Sets US Price for COVID-19 Drug Remdesivir
Gilead Sciences on Monday announced the price of their coronavirus disease 2019 (COVID-19) drug remdesivir in the United States.
In an open letter, Gilead, the company that makes the COVID-19 drug remdesivir, said they tried to figure out for months balancing profit and public health needs amid the pandemic in making decision for the price.
According to a CNN News, Gilead set a price of $390 per vial for the U.S. government, which would include Veterans Affairs and Department of Defense hospitals, as well as other governments of developed countries. However, the discounted price will not apply to Medicare and Medicaid.
This means a person, who is qualified to get the Gilead COVID-19 drug remdesivir at an amount of $390, will cost the U.S. government to pay $2,340 for six-vial treatment in a five-day course.
Meanwhile, Gilead will charge $520 for patients in the U.S. who have private insurance. This means that they will be paying an amount of $3,120 for six-vial in a five-day treatment course.
Gilead CEO Daniel O'Day believed that all COVID-19 patients will have access to the remdesivir, through the help of government programs and assistance from the company.
Gilead's Pricing for Remdesivir Was Criticized
Gilead's price for their COVID-19 drug remdesivir was not welcomed by some groups and individuals. They accused Gilead of taking advantage of Americans during the pandemic.
Democratic Representative Lloyd Doggett from Texas called the price as "outrageous," according to a published article in NPR.
He said the drug would have been abandoned without the taxpayers' investment that worth $99 million.
Peter Maybarduk, director of Public Citizen's Access to Medicines Program, supported the statement of Doggett and said: "In an offensive display of hubris and disregard for the public, Gilead has priced at several thousand dollars a drug that should be in the public domain."
However for Geoffrey Porges, an analyst, he said that the announced price for remdesivir offers a "spectacularly good value."
Trump Secured More than 500,000 Treatment Courses
The Department of Health and Human Services on Monday said President Donald Trump has already secured more than 500,000 treatment courses. U.S. Health Secretary Alex Azar issued this announcement via his Twitter account.
Azar tweeted: "Breaking news: President Trump has secured more than 500,000 treatment courses of the drug remdesivir for American hospitals through September."
The price set by Gilead for remdesivir is less than the highest estimated price, but more than the lowest ones. The firm's price will send a message to companies, who are developing vaccines and other treatments for COVID-19, on how they will do the pricing.
Meanwhile, Gilead believed that they can still have profit from the price they set for remdesivir. But many people hoped that this will not encourage other companies, who continue to invest and develop COVID-19 vaccines, to overprice their drugs or treatments, once they release them.
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