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Gilead Shares
CUSIP: 375558103 | ISIN: US3755581036 | Symbol: GILD | Type: Ordinary Shares.
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GILD Profile

Sector: Health Technology
Industry: Biotechnology
Employees: 11800

Gilead Sciences, Inc. is a biopharmaceutical company, which engages in the research, development, and commercialization of medicines in areas of unmet medical need. The firms primary areas of focus include human immunodeficiency virus, acquired immunodeficiency syndrome, liver diseases, hematology, oncology, and inflammation and respiratory diseases. It offers antiviral products under Harvoni, Genvoya, Epclusa, Truvada, Atripla, Descovy, Stribild, Viread, Odefsey, Complera/Eviplera, Sovaldi, and Vosevi brands. The company was founded by Michael L. Riordan on June 22, 1987 and is headquartered in Foster, CA.

Gilead prices remdesivir at $2,340 for treatment in most of the developed world

Published: June 29, 2020 at 10:47 a.m. ET

Shares of Gilead Sciences Inc. GILD, -0.01% gained 1.1% in premarket trading on Monday after the drugmaker disclosed that remdesivir, its experimental COVID-19 treatment, will cost $2,340 for a course of treatment. The drug hasn't been approved by the Food and Drug Administration but received an emergency use authorization from the regulator in May. The price, however, is slightly higher for the privately insured population in the U.S., at $3,120 per course of treatment.

"There is no playbook for how to price a new medicine in a pandemic," Gilead CEO Daniel O'Day said in a statement. The price of $2,340 applies to all developed countries, a decision aimed at removing "the need for country by country negotiations on price," O'Day said. Remdesivir has since been approved in Japan and has been recommended for approval in the European Union.

The Institute for Clinical and Economic Review, an organization that studies cost-effectiveness in medicine, last week updated its price recommendation for remdesivir, to $2,520 to $2,800 for a course of treatment, if patients are also prescribed dexamethasone. U.K. researchers recently discovered that the commonly used steroid can reduce mortality in some severely ill COVID-19 patients. Studies have found that remdesivir can reduce the amount of time that patients are in the hospital, but no mortality benefit has been found in clinical research at this time. Shares of Gilead are up 14.7% year-to-date, while the S&P 500 SPX, +1.46% is down 6.8%.