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Gilead Corona Virus

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Last Updated: 02 July 2021

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Gilead Sciences on Monday set the price for remdesivir, its antiviral drug that can shorten hospitalization stays for individuals ill with coronavirus disease 2019 from SARS - CoV - 2 infection, at 520 vial, or 3120 per patient for typical treatment course, for those with private insurance. The price for those not covered by private insurance will be 390 per vial. The treatment course is 6 vials. The FDA approved the drug for emergency use in some patients and the company has applied for full approval. The Institute for Clinical and Economic Review last week said remdesivir would be cost - effective at a price range of 4580 to 5080 if it saved lives. However, news that inexpensive steroid, dexamethasone, which does not have patent, improves survival means remdesivir should be priced between 2520 and 2800, ICER say. In statement posted on the company website, Gileads CEO, Daniel ODay, say, There is no playbook for how to price new Medicine in a pandemic. We are aware of significant responsibilities that come with pricing remdesivir, and need to be transparent in our decision. In normal times, he say, drugs would be priced according to savings they provide. He said that shortening hospitalization time by an average of 4 days would result in savings of 12 000 per patient. He also said that the company expects its investment to exceed 1 billion. Analysts at Royal Bank of Canada told Reuters they saw revenue potential of 2. 3 billion from drugs in 2020, helping to offset those development and distribution costs. But the consumer group, Patients for Affordable Drugs, criticize price, saying that taxpayers, through the National Institute of Allergy and Infectious Diseases, fund COVID - 19 remdesivir trial and that the Institute expects to spend a minimum of 30 million on remdesivir studies by the end of 2020. It also cites earlier government spending when drugs were studied for Ebola. By contrast, & 8203; & 8203; I & 8203; & 8203; & 8203; n 127 poor or middle - income countries, Gilead is allowing generic makers to supply Drug; 2 countries are doing that for around 600 per treatment course. Another group, Pacific Business Group on Health, which represents employers ' concerns, also said in a statement sent to American Journal of manage Care that it has serious concerns with price, citing ICER analysis and taxpayer - back Research support. It is another unfortunate example of drug manufacturers taking advantage of their monopolies to set prices at whatever level they want. It is also a worrisome indicator that they will exploit the COVID pandemic to maximize their profits at the expense of patients. The bottom line is that this adds to the financial burden on employers and their employees and families, many of whom are already struggling from the impact of the COVID pandemic, group say. Hhs is managing allocation of remdesivir to hospitals until the end of September through agreement with Gilead. Agency said Monday it has more than 500 000 treatment courses.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions.

* Please keep in mind that all text is machine-generated, we do not bear any responsibility, and you should always get advice from professionals before taking any actions

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