UPDATED 10:20 AM PT — Monday, June 29, 2020
Drug manufacturer Gilead released its pricing plan for the COVID-19 drug Remdesivir.
The company reportedly plans charge the U.S. government $390 a dose, which will cost patients on Medicare at least $2,300 for the shortest coronavirus treatment cycle.
It will also charge non-government buyers such as hospitals $520 per dose, in turn, costing patients with private insurance at least $3,100 per treatment cycle.
During an interview Monday, the company’s CEO Daniel O’Day defended the company’s pricing.
“The same focus went into the price and although this medicine adds significant value to the healthcare system by reducing the hospital days, we decided to price this at a very extraordinary time in a unique way,” he stated. “We priced it at the value, at the price that allows for access across the developed world.”
We announced the price today for our investigational antiviral for the treatment of COVID-19. We believe our unique approach will provide broad and equitable access. Read more from our Chairman & CEO: https://t.co/rrEbrDxrLk. pic.twitter.com/9ElSExqSU3
— Gilead Sciences (@GileadSciences) June 29, 2020
Gilead is set to begin selling Remdesivir on July 1.