News World Gilead prices COVID-19 drug candidate remdesivir at $2,340 per patient in U.S.

Gilead prices COVID-19 drug candidate remdesivir at $2,340 per patient in U.S.

 

Gilead Sciences Inc has priced its COVID-19 drug candidate remdesivir at $2,340 for a five-day treatment in the United States and some other developed countries, it said on Monday, as it set the price for a single vial at $390.

The price for U.S. private insurance companies will be $520 per vial, the drugmaker said, which equates to $3,120 per patient for a treatment course using 6 vials of remdesivir.

This is below the $5,080 per course recommendation by U.S. drug pricing research group, the Institute for Clinical and Economic Review, last week.

Gilead has entered into an agreement with the U.S. Department of Health and Human Services (HHS), with the agency and states set to manage allocation to hospitals until the end of September.

HHS has secured more than 500,000 treatment courses of the drug for American hospitals through September, the agency said on Monday.

This represents 100% of Gilead’s projected production for July of 94,200 treatment courses, 90% of production in August and September, in addition to an allocation for clinical trials, HHS said.

After this period, once supplies are less constrained, HHS will stop managing the allocation, Gilead said.

Remdesivir’s price has been a topic of intense debate since the U.S. Food and Drug Administration approved its emergency use in some COVID-19 patients in May. Experts have said that Gilead would need to avoid the appearance of taking advantage of a health crisis for profits.

Wall Street analysts have said the antiviral drug could generate billions of dollars in revenue over the next couple of years if the pandemic continues.

Gilead has tied up with generic drugmakers based in India and Pakistan, including Cipla Ltd and Hetero Labs Ltd, to make and supply remdesivir in 127 developing countries.

Cipla’s version is priced at less than 5,000 Indian rupees ($66.24), while Hetero Lab’s version is priced at 5,400 rupees.

(Reuters)

Top Stories

PM Mitsotakis: Greece-Egypt’s agreement on maritime zones a national success

Prime Minister Kyriakos Mitsotakis said on Friday that the agreement between Greece and Egypt for the delimitation of their maritime zones, reached on Thursday,...

Cyprus’ President calls on Cypriots to donate food for Lebanon

Cyprus' President Nicos Anastasiades has called on Cypriot citizens, companies and businesses to contribute by donating generously to the campaign for collecting specific kinds...

Cyprus rescue teams begin operations in Beirut

Cyprus rescue teams which are in Lebanon began their operations since 7 am on Friday, in cooperation with a team from Qatar in Beirut`s...

Toddler almost drowned in Paralimni

A 14-month-old girl almost drowned on Friday morning at Paralimni. According to police, it was around 8:30 am when the baby girl who resides in...

Municipalities in partial suspension of payments

The chairman of the Union of Municipalities Andreas Vyras, revealed the dire financial situation in which the municipalities find themselves due to reduced revenues...

Taste

Octopus ‘Kathisto’ (or Octopus braised in Wine)

Ingredients: 1/2 cup Greek extra virgin olive oil 2 medium onions, chopped fine 1 large octopus, about 2kg (cleaned and kept whole) 3/4 cup dry red wine 1/3 cup...

Homemade lemonade

Ingredients: 1 cup lemon juice 1 cup sugar Method: Thoroughly wash the lemons with soap and warm water. Roll each lemon with the palm of your hand, pressing...

‘Striftaria’ mini cheese pies

Ingredients 1 ½ cup milk 2 tbsps. flour 4 tsps. of butter 3 eggs, slightly beaten + 1 extra with 1 tbs. of milk for spreading 1 pack of...

Mini potato canapes baked on salt

Ingredients Serves: 12 1kg small Cypriot potatoes rock salt, as needed 250g salted butter 300ml full fat cremé frâiche 1 pot cod or salmon roe Method Prep:20min › Cook:35min › Ready in:55min Take...