viewGilead Sciences, Inc.

Gilead slaps multi-thousand-dollar price tag on coronavirus treatment remdesivir

The pharma giant intends to charge developed countries US$2,340 for a five-day treatment, while other parts of the world can access generic versions

Gilead Sciences, Inc. - Gilead slaps multi-thousand-dollar price tag on coronavirus treatment remdesivir

Gilead Sciences Inc (NASDAQ:GILD) has announced it will charge thousands of dollars for its investigational drug remdesivir, temporarily approved in certain countries as coronavirus treatment.

In the US, a five-day course will cost US$3,120 for patients with private health insurance, while those on government programmes such as Medicaid will be charged US$2,340.

READ: Gilead Sciences' remdesivir shows improvement in coronavirus patients with moderate pneumonia

The pharma giant said this price, which amounts to US$390 per vial, will be offered to all governments in developed countries around the world where remdesivir is approved or authorised for use.

Less wealthy countries will be able to receive a generic version, as Gilead inked licensing agreements with five manufacturers.

Clinical trials showed that the antiviral can help patients with moderate pneumonia to recover faster compared to the standard of care over a 5-day course, while the 10-day treatment did not show statistical significance.

It is also being evaluated in combination with Roche’s arthritis treatment Actemra for severe coronavirus cases.

Shares rose 2% to US$76.06 on Monday after open.

Quick facts: Gilead Sciences, Inc.

Price: 63.33 USD

Market: NASDAQ
Market Cap: $79.39 billion

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