American pharmaceutical giant Gilead Sciences, the company producing a Food and Drug Administration-approved antiviral drug Remdesivir, which had shown to be effective among severe COVID-19 cases, announced on Monday that the price per dose will be $520, or about $3,120 for a typical course of treatment, CNBC reports.
The report notes that the price in the U.S. will be higher in the U.S. than in other developed countries.
The antiviral drug Remdesivir was shown in initial studies to reduce respiratory and fever symptoms, and the Food and Drug Administration said in April it will authorize the emergency use of the drug.
U.S. taxpayers have reportedly invested at least $70 million developing Remdesivir while the cost of making the drug is just $10 dollars. So charging $3,000 per treatment is a very high price.
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BREAKING: Gilead sets pricing for its remdesivir treatment. In the United States, it will cost $520 per dose or about $3,120 for a typical course of treatment, @megtirrell reports. $GILD pic.twitter.com/R8NgDScA1y
— Squawk Box (@SquawkCNBC) June 29, 2020
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