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Gilead Prices Remdesivir At $390 Per Vial; 5-day Treatment To Cost $2,340 Per Patient

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Gilead Sciences (GILD) has decided to price remdesivir at $390 per vial for governments of developed countries. The company said this price will be offered to all governments in developed countries around the world where remdesivir is approved or authorized for use. In the U.S. also, the same government price of $390 per vial will apply. Based on current treatment patterns, the vast majority of patients are anticipated to receive a 5-day treatment course using 6 vials of remdesivir, which equates to $2,340 per patient. For U.S. private insurance companies, the price will be $520 per vial.

"In normal circumstances, we would price a medicine according to the value it provides. However, we have decided to price remdesivir well below this value," Daniel O'Day, Chairman & CEO, Gilead Sciences said.

Gilead said it also remains focused on increasing supplies to meet the high global demand. By the end of the current year, the company expects its investment on the development and manufacture of remdesivir to exceed $1 billion.

Remdesivir is an antiviral product that is being studied in multiple ongoing international clinical trials. In the U.S., the FDA granted remdesivir an Emergency Use Authorization for the treatment of hospitalized patients with severe COVID-19.

Shares of Gilead Sciences were up 3% in pre-market trade on Monday.

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