Nearly a dozen state treasurers are asking Gilead Sciences (GILD) to lower the price of its experimental remdesivir treatment for Covid-19, arguing the company is attempting to market an “old drug at prices that are disconnected from economic reality.”
In a letter to Gilead chief executive Daniel O’Day, the state officials cautioned that Gilead should not take “financial advantage” of the pandemic to pursue “unreasonable profits” because it “sets a dangerous precedent for future treatments in development.” The letter was sent by treasurers in Ohio, Pennsylvania, Nevada, Maine, Iowa, Oregon, Colorado, Wisconsin, Texas, Rhode Island, and Massachusetts.
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Great work Ed.Keep it going.
Vico
Very interesting to see that California, by far the state with the largest number of cases, is not one of the States. Perhaps Governor Newsome being astute nd smart enough and with Gilead located in CA, have already negotiated or is actually negotaiating for a CA only price for remdesivir.
IMHO that would be a much better approach. It actually has a precedent a while back with GIlead’s HCV drugs (Harvoni and Epclusa). I also believe for the HIV meds, Gilead also negotiatee with each State’s Medicaid for a state specific price within the ADAP (Aids Drug Assistance Program).
art B of the Ryan White HIV/AIDS Treatment Extension Act of 2009 (Public Law 111-87) provides grants to U.S. states and territories. The AIDS Drug Assistance Program (ADAP) is a state and territory-administered program authorized under Part B that provides FDA-approved medications to low-income people living with HIV who have limited or no health coverage from private insurance, Medicaid, or Medicare. ADAP funds may also be used to purchase health insurance for eligible clients and for services that enhance access to, adherence to, and monitoring of drug treatments.
https://hab.hrsa.gov/about-ryan-white-hivaids-program/part-b-aids-drug-assistance-program
No matter what Gilead charges for its drugs, it will get accused of charging too much.
“The missive is also the latest complaint by state officials over pricing for the Gilead drug, which the Food and Drug Administration last May authorized for emergency use to combat the virus.”
Although this pandemic sure feels like forever, this was only a few months ago 🙁