Gilead Sciences officially announced prices for the antiviral drug, Remdesivir, to be used against Covid-19. Despite criticisms, CEO Daniel O'Day assures accessibility of the drug to patients in America with or without insurance coverage, and to underdeveloped countries as well.
By the beginning of July, Gilead will be charging purchasers for the drug. Gilead has also made deals with generic manufacturers in underdeveloped nations to ensure the drug is provided at an affordable price.
There was much noise after the announcement. Critics say the drug is unreasonably overpriced considering the funding for its development primarily came from tax money. Daniel O’Day, CEO of Gilead Sciences, stands firm in his principle that the decided prices of the drug were thought through with the intention of making it accessible to anyone who needs it, regardless of the type of insurance coverage or lack thereof.
"As with all our actions on remdesivir, we approached this with the aim of helping as many patients as possible, as quickly as possible and in the most responsible way," the Gilead CEO says in his open letter that was released on Monday, June 29th.
O’Day assures the public that all factors were considered in the making of this decision. He adds that he was aware that the price of this drug could serve as a standard in pricing future drugs that are being developed for the virus.