Gilead Sciences to charge $390 for its coronavirus drug
It seems that in the race for the COVID-19 fighting drug, the US will be the first. Gilead, the US research-based biopharmaceutical company, announced that the European Commission had granted marketing authorization to Veklury (remdesivir) as a treatment for COVID-19. Notably, the company also said it would sell the drug to developed countries for a much lower price in order to create a one-price model. Gilead did not clarify the price for developing countries and third world countries. In an open letter to the authorities of developed countries on behalf of the CEO and Chairman of the Board of Directors of Gilead, Daniel O’Day, said that it would charge $390 per vial for its drug.
This drug has been successfully tested. According to the data, the average patient infected with the coronavirus should undergo a five-day course of treatment, which includes six vials of remdesivir. The company set the price for developed countries at $2,340. Private clinics, insurance companies, and other entities will be able to buy remdesivir for $520 per vial, or $3,120 for a five-day course.
"In normal circumstances, we would price a medicine according to the value it provides. We have decided to price remdesivir well below this value. To ensure broad and equitable access at a time of urgent global need, we have set a price for governments of developed countries of $390 per vial", Daniel O’Day said in an open letter. "The first results from the NIAID study in hospitalized patients with COVID-19 showed that remdesivir shortened time to recovery by an average of four days. Taking the example of the United States, earlier hospital discharge would result in hospital savings of approximately $12,000 per patient,” he added.