In an open letter, Gilead Sciences (NASDAQ:GILD) Chairman & CEO Dan O’Day announces the price of antiviral remdesivir, still the only drug approved by the FDA for emergency use in COVID-19.
Aimed at “broad and equitable” access at a time of urgent global need, the company has priced it at $390 per vial or $2,340 per five-day course (six vials), the most common treatment regimen for COVID-19 patients, substantially below what some analysts have been projecting.
It is ramping up production and expects its investment in the development and manufacture of remdesivir to exceed $1B by year-end.
In the developing world, Gilead has deals with generic manufacturers to allow treatment at substantially lower costs.
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