Gilead Sciences has released how much it’s going to charge for its COVID-19 drug remdesivir—and it’s not cheap.
The regimen requires six vials of remdesivir over a five-day period; each vial is $390 in the United States and for the governments of developed countries, bringing the total to $2,340 for each person.
However, for private insurance companies in the U.S., the cost is $520, or $3,120 for the five vials.
And the Foster City, California, biopharmaceutical company is working with generic-drug manufacturers on lowering the cost of treatment in developing countries.
“In making our decision on how to price remdesivir, we considered the full scope of our responsibilities,” chairman and CEO Daniel O’Day wrote in a blog post today. “We started with our immediate responsibility to ensure price is in no way a hindrance to ensuring rapid and broad treatment. We also balanced that with our longer-term responsibilities: to continue with our ongoing work on remdesivir, to maintain our long-term research in antivirals and to invest in scientific innovation that might help generations to come.”
He said remdesivir will save hospitals an estimated $12,000 per patient due to an earlier discharge, because it shortens the recovery period by an average of four days.
The U.S. Food and Dug Administration hasn’t approved remdesivir, but it gave it an Emergency Use Authorization for use in people with severe cases of COVID-19.