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COVID-19 drug remdesivir priced at $2,340 per patient in US

COVID-19 drug remdesivir priced at $2,340 per patient in US

Mubasher: Gilead Sciences Inc has set the price of its remdesivir drug, which is used to help treat many COVID-19 cases, at $390 per vial for the US and other developed countries, Reuters reported on Monday.

The price of a five-day course was set at $2,340 per patient, whilst the price for US private insurers will be $520 per vial, equivalent to a total of $3,120 per patient.

Gilead has signed an agreement with the US Department of Health and Human Services (HHS) under which the department and states will manage allocation to hospitals until the end of September, but will stop once supplies are less constrained.

"In the developing world, where healthcare resources, infrastructure, and economics are so different, we have entered into agreements with generic manufacturers to deliver treatment at a substantially lower cost. These alternative solutions are designed to ensure that all countries in the world can provide access to treatment," according to a statement by the biopharmaceutical company.

The antiviral drug’s price has become a subject matter of intense debate since the US Food and Drug Administration (FDA) approved its emergency use for COVID-19 patients last May.

Moreover, experts have suggested that Gilead should not be taking advantage of a health crisis for profits, while some Wall Street analysts expected the drug to generate billions of dollars in revenue over the upcoming years if the pandemic continues.