Gilead’s coronavirus drug will cost $2,340 — which sounds expensive, but here’s why it’s not (Business Insider)

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    Gilead’s coronavirus drug will cost $2,340 — which sounds expensive, but here’s why it’s not – By Jaimy Lee (Business Insider) / June 30 2020

    The drugmaker’s decision to price remdesivir below expectations could be a ‘promising sign’ of how much other COVID-19 treatments will cost, said one expert

    Gilead Sciences Inc.’s COVID-19 drug remdesivir will cost much less than Wall Street analysts had predicted in a move that likely points to a more measured, responsible approach to the pricing of treatments and vaccines during the pandemic.

    Shares of Gilead GILD, -0.01% gained 0.9% in trading on Monday following the pricing announcement made before the market opened. U.S. health officials separately said Monday morning that the government had reserved 500,000 courses of remdesivir for Americans through September, to be purchased by hospitals.

    The cost of remdesivir for a 5-day course of treatment is $2,340 in all developed countries, a price tag that is similar to cost-effectiveness estimates previously shared by a drug-pricing watchdog organization. There is one exception, however; in the U.S., the cost for a patient who has commercial health insurance, including a plan through their employer and purchased on the health exchanges, is $3,120.

    “Because of the way the U.S. system is set up and the discounts that government health care programs expect, the price for U.S. private insurance companies will be $520 per vial,” Gilead CEO Daniel O’Day said in a statement.

    Continue to article: https://www.marketwatch.com/story/gileads-covid-19-drug-costs-2340-experts-say-thats-a-responsible-price-2020-06-29?mod=home-page

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