Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. “We’re in uncharted territory with pricing a new medicine, a novel medicine, in a pandemic,” Gilead’s chief executive, Dan O’Day, told The Associated Press. “We believe that we had to really deviate from the normal circumstances” and price the drug to ensure wide access rather than based solely on value to patients, he said. Jefferies pharmaceuticals analyst Michael Yee wrote to investors that Gilead’s price was a bit above what stock brokers were expecting. He said that at that price, analysts expect Gilead to make $525 million on remdesivir sales this year and $2.1 billion next year.

Source: ABC News June 29, 2020 11:15 UTC