Gilead sets coronavirus drug candidate remdesivir at $2,340 per patient

Coronavirus drug Remdesivir to run $3,120 for insured patients

However, in the U.S., because of the way the American healthcare system is set up, and discounts that government healthcare programmes expect, the price for USA private insurance companies will be $520 per vial, O'Day confirmed. That is a 33% increase over the $390 per vial Gilead said it will charge governments of developed countries and United States patients in government healthcare programs.

"We're in uncharted territory with pricing a new medicine, a novel medicine, in a pandemic", Gilead's main govt, Dan O'Day, advised The Related Push.

Gilead Sciences Inc. said it would charge the US government and other developed countries $390 per vial for its coronavirus-fighting drug remdesivir, or about $2,340 for a typical five-day course of 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.

It will also charge non-government buyers such as hospitals $520 per dose, in turn, costing patients with private insurance at least $3,100 per treatment cycle.

The Food and Drug Administration authorized Remdesivir for emergency use in May after the drug showed promising results in early clinical trials, although the FDA has not given official approval to the drug as this normally takes years. "This degree of speculation is understandable", Gilead CEO Daniel O'Day said in an open letter.

Remdesivir's price has been highly anticipated since it became the first medicine to show benefit in the pandemic, which has killed more than half a million people globally in six months. While the drug modestly reduced hospital stays, it has not been shown to reduce deaths in COVID-19 patients.

Pricing per patient is "well in-line if not below the value pricing they could have charged based on $12,000 of hospital savings for early discharge".

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COVID-19 treatment Remdesivir will cost thousands of dollars in the United States as confirmed by its maker, Gilead Sciences Incorporated.

Rates outperform and is revisiting remdesivir sales forecasts and Gilead's valuation.

Gilead shares were about flat in midday trading.

Gilead has entered into agreements with generic manufacturers in developing countries to deliver treatment at a substantially lower cost.

A recent ICER report found that the drug likely costs about $9.32 - rounded up to $10 - to manufacture one 10-day course of treatment. After this period, once supplies are less constrained, HHS will no longer manage allocation.

At the $2,340 government purchase price, Gilead could collect revenue of about $2.3 billion from selling around 1.5 million remdeisivr treatment course in 2020, RBC Capital analyst Brian Abrahams wrote in a Monday note to clients.

Cipla's version is priced at less than 5,000 Indian rupees (US$66.24), while Hetero Lab's version is priced at 5,400 rupees.

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