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Gilead Announces $3,120 Price Tag for Its COVID-19 Treatment Remdesivir
by Causes
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  • Leslie
    07/02/2020
    ···

    Wishful drug pricing on Gilead’s part. Between pricing of competitive drugs & HHS patent rights, Gilead will be forced to change pricing. So I wouldn’t run out & buy their stock. As new drugs (especially vaccine & antibodies) come to market this price will drop significantly. Already a low cost generic steroid, dexamethasone, study data is available & in peer review! “Institute for Clinical and Economic Review (ICER) found that the low-cost steroid dexamethasone—which made a big splash recently with preliminary data—does deliver peer-reviewed data showing it can save the lives of seriously ill patients, remdesivir’s price should drop to the range of $2,520 to $2,800, according to ICER.” HHS patent rights (28 U.S.C. § 1498 ) can force Gilead’s hand on manufacturing & distribution hence supply & pricing, “HHS holds important patent rights over remdesivir that it could use to take control of manufacturing and distribution, thereby accelerating competition and ensuring that everyone can access the drug. HHS should publicly commit to exercising all of its patent rights on behalf of public health, unless and until Gilead commits to fair pricing and universal, global access.” “HHS could license remdesivir manufacturing to multiple competing drug manufacturers, which would provide adequate supply while pushing prices down. Patients and payers would pay low prices for remdesivir, close to its manufacturing costs.” The drug does cut hospital stays by 4 days which costs more than the drug so insurers should be more than willing to pay, and creates a ceiling on pricing. The real problem is the uninsured, “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. That earlier discharge would result in about $12,000 in hospital costs per patient,” https://www.fiercepharma.com/marketing/gilead-prices-covid-19-drug-remdesivir-line-cost-analysis https://www.statnews.com/2020/07/02/powerful-law-gives-hhs-right-to-control-remdesivir-manufacturing-distribution/

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