Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Business News Coronavirus

Developing countries will pay less for COVID-19 drug – Gilead reveals 

Ruth Okwumbu-Imafidon by Ruth Okwumbu-Imafidon
June 29, 2020
in Coronavirus
remdesivir as first vaccine , Developing countries will pay less for COVID-19 drug – Gilead reveals 

Remdesivir

Share on FacebookShare on TwitterShare on Linkedin

After weeks of debate of how Topline Gilead Sciences would develop pricing that balances social responsibility with its profits, the company has announced the pricing plan for Remdesivir, its coronavirus treatment drug.

According to the plan announced, countries in the developing world will pay much less for the drugs, than their counterparts in the developed world.

Forbes reports that the company said in its Monday statement, that the government of developed countries, including programs like Medicare in the U.S., will pay $2,340 for a typical five-day treatment course, or $390 per vial for six vials.

RelatedPosts

Moderna says its Covid vaccine generates strong immune response in 6-11 year-olds

Pfizer asks United States to allow administration of Covid shots for kids aged 5-to-11

Though no figure was given, the company stated that developing countries, where the drug has been licensed to generic manufacturers, will pay significantly less.

On the other hand, private insurance companies in the United States will pay a lot more, $3,120 for a five-day course of treatment, or $520 per vial.

News continues after this ad


According to the company, the pricing plan announced is “well below” the drug’s value and showed responsibility on the part of the company.

“Remdesivir, our investigational treatment, is the first antiviral to have demonstrated patient improvement in clinical trials for COVID-19 and there is no playbook for how to price a new medicine in a pandemic,” Gilead CEO Daniel O’Day wrote in an open letter on Monday.

News continues after this ad


READ MORE: UK scientists discover cheap drug (just N2.5k) that can combat Covid-19

The company estimates that it will reduce hospital costs by $12,000 per patient, as data shows that COVID-19 patients taking Remdesivir were discharged from the hospital four days earlier than those undergoing a standard treatment plan.

After donating its 1.5 million doses of Remdesivir to the U.S. government to allocate on an as-needed basis through the end of June, the company also announced that it will begin charging for the drug from July 1, 2020.

After making the announcement on Monday, Gilead’s share price jumped up 2.7% to in premarket trading.

The Food and Drug Administration authorized Remdesivir for emergency use in May after the drug showed promising results in early clinical trials, although the FDA has not given official approval to the drug as this normally takes years.

 

Related

Tags: Food and Drug AdministrationremdesivirTopline Gilead Sciences

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • MailChimp suspends accounts of crypto-related content creators, media 
    • OPEC says Nigeria’s oil production averaged 1.183mbpd in July 2022
    • NAICOM approves appointment of Valentina Marinho as Non-executive director of Linkage Assurance

    Follow us on social media:

    Recent News

    Intuit to acquire Mailchimp for $12 billion

    MailChimp suspends accounts of crypto-related content creators, media 

    August 11, 2022
    Latest drop in India’s oil import spells bad news for Nigeria’s forex reserves

    OPEC says Nigeria’s oil production averaged 1.183mbpd in July 2022

    August 11, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com