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COVID-19 drug remdesivir to cost $3,120 for typical patient on private insurance
Gilead CEO: Approx. 1.5M Remdesivir vials will be donated to patients
Gilead Sciences, Inc. CEO Daniel O’Day says the company feels ‘a tremendous responsibility’ to help patients fight coronavirus.
Gilead Sciences Inc. detailed its pricing plans for Covid-19 drug remdesivir, saying it will charge U.S. hospitals $3,120 for a typical patient with commercial insurance.
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The drugmaker on Monday disclosed its pricing plans as it prepares to begin charging for the drug in July. The U.S. has been distributing remdesivir donated by Gilead since the drug was authorized for emergency use in May.
GILEAD SCIENCES INC.
Under the company's plans, Gilead will charge a higher price for patients with private insurance in the U.S., and a lower price for U.S. government health programs like Medicare and all other developed countries that insure their patients directly.
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The government price will be $390 per dose or $2,340 per patient for the shortest treatment course and $4,290 for a longer treatment course.
Gilead said in the U.S. it will charge nongovernment buyers such as hospitals about $520 per dose, or a third more than the government price, for patients who are commercially insured. That works out to $3,120 for a patient getting the shorter, more common course of treatment, and $5,720 for the longer treatment duration.
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The U.S. is the only developed country where Gilead will charge two prices, Gilead Chief Executive Daniel O'Day said in an interview. In other nations, governments negotiate drug prices directly with drugmakers. "The logic is that we wanted a single government price around the developed world," Mr. O'Day said.