Gilead Increases Its Remdesivir Donation To U.S. As Executives Tout Drug’s Long-Term Profit Potential
The drugmaker didn't provide an explanation of why it was increasing the donation of its medication that has shown to help treat coronavirus patients. Meanwhile, Gilead seems eager to convince skeptical investors that the $1 billion spent this year on development and production can eventually yield a real return.
Gilead Ups Its Donation Of The Covid-19 Drug Remdesivir
Gilead Sciences, the drug company behind the experimental Covid-19 therapy remdesivir, has upped the number of doses it’s donating to the federal government from 607,000 to around 940,000, STAT has learned. The new number appeared, with no acknowledgement of the shift, in a letter that a U.S. Department of Health and Human Services official sent to governors on Saturday. “The numbers keep changing,” said Congressman Lloyd Doggett (D-Texas), who provided a copy of the letter to STAT. “There was no explanation of the change.” (Boodman, 5/18)
Gilead's Remdesivir Could Become A 'Multi-Year Commercial Opportunity'
As speculation mounts over pricing for remdesivir, a Gilead Sciences (GILD) executive suggested the experimental medicine will likely sell for much less than the nearly $30,000 it was recently valued at in a cost-effectiveness model, according to a Wall Street analyst. At the same time, the drug maker believes remdesivir has the potential to become a “multi-year commercial opportunity,” rather than provide just a surge in sales for a year or two, Leerink analyst Geoffrey Porges wrote in an investor note sent on Monday that summarized a conversation he had with Gilead chief financial officer Andrew Dickinson. (Silverman, 5/18)
In other pharmaceutical news —
EMA Urged To Release Full Trial Data Upon Authorizing Covid-19 Treatments
Amid worldwide clamor for Covid-19 medicines and vaccines, the European Medicines Agency is being urged by several international clinical evidence experts – including a key German government agency – to publish all trial data on the same day any product is authorized for use against the novel coronavirus. In a letter to the European regulator, four country directors from the independent watchdog Cochrane and leaders from Germany’s Institute for Quality and Efficiency in Health Care argued that it is critical to promptly release clinical study reports to support further research and proper medical care. The reports are go-to documents that contain myriad details about the methods and results of a clinical trial. (Silverman, 5/18)