Monday, Oct 03, 2022 - 06:12:01
39 results - (0.005 seconds)

and drug price:

latest news at page 1:
1
    Senate parliamentarian Elizabeth MacDonough has reportedly given the green light for most of the energy and drug pricing provisions in the Inflation Reduction Act to be part of the reconciliation bill. With the Senate parliamentarian's approval, Senate Democrats will soon be able to wrangle one of their most significant pieces of legislation through the Senate by bypassing the 60-vote threshold needed to overcome a filibuster. Democrats had previously been fretful that the parliamentarian might shoot down some of their drug pricing reform measures in the bill. MEET THE SENATE ADVISER WHO CAN KILL THE INFLATION REDUCTION ACT “Democrats have received extremely good news: For the first time, Medicare will finally be allowed to negotiate prescription drug prices, seniors will have free vaccines and their costs capped, and much more," Senate Majority Leader Chuck Schumer (D-NY) said in a statement. The parliamentarian had adjusted one key component of the bill that involved an inflation cap on drug prices, but permitted the main piece about allowing Medicare to negotiate drug prices, according to Schumer. She allowed the government...
    Washington (AP) — Reining in the soaring prices of insulin has thus far been elusive in Congress, although Democrats say they’ll try again — as part of their economic package that focuses on health and climate. The price of the 100-year-old drug has more than tripled in the last two decades, forcing the nation’s diabetics to pay thousands of dollars a year for the life-saving medication. Democrats are considering capping the cost of that drug for at least some, although it’s unclear what the final proposal will look like and how many insulin users will get a price break. Here’s a look at how insulin became so expensive and why it’s so difficult to bring the price of the drug down. HOW MANY PEOPLE IN THE U.S. USE INSULIN AND FOR WHAT? Roughly 8.4 million Americans use insulin, according to the American Diabetes Association. Not everyone who has diabetes needs insulin, but for those who do, it’s an important medication. For more than 1 million of those people with type 1 diabetes, regular access to the medication is...
    SACRAMENTO —  California is diving into the prescription drug business, attempting to achieve what no other state has done: produce its own brand of generic insulin and sell it at below-market prices to people with diabetes like Sabrina Caudillo. Caudillo said she feels like a “prisoner” to the three major pharmaceutical companies that control the price of insulin, which ranges from $300 to $400 per vial without insurance. The price Caudillo paid in 2017, when she was diagnosed, is etched into her memory: $274. “I remember crying my eyes out at CVS and realizing it’s going to be like this for the rest of my life,” said Caudillo, 24, a college student who lives in La Puente. She now has insurance that covers the entire cost of the lifesaving drug but still has trouble affording her insulin supplies and paying the monthly premium for her plan. “This disease is really expensive, and I’m barely making it every month,” Caudillo said. When Sabrina Caudillo was diagnosed with diabetes in 2017, she had to pay $274 out-of-pocket for insulin. Now, her insurance plan...
    Three massive pharmaceutical companies are facing a lawsuit in Arkansas over allegations they helped drive up the cost of insulin in the state - just as discussions over potential insulin price caps heat up nationwide. Leslie Rutledge, attorney general of the Razorback state, announced the lawsuit on Wednesday, targeting Eli Lilly, based in Indianapolis, Indiana, Novo Nordisk, a Danish company, and Sanofi, from France. The price of insulin has famously soared in recent years, making the drug that many diabetics need to manage their condition daily the poster-child for the crisis of American drug pricing. Reigning in the price of insulin has even developed into a rare issue with bipartisan support, with both Republicans - like Rutledge - and Democrats - like President Joe Biden and Senator Raphael Warnock - showing support. Leslie Rutledge (pictured) is suing three major pharmaceutical companies for allegedly driving up the cost of insulin, her office announced this week 'Thousands of Arkansans rely on insulin every day to live their best life. These drug manufacturers and PBMs have inflated the price of insulin and other...
    Congressional Democrats are desperate for legislative victories heading into an ominous election season. They think they’ve seized on a winner with a bill that passed the House of Representatives this month to cap the patient cost of insulin at $35 per month. The Affordable Insulin Now Act taps into American diabetics’ frustration with runaway insulin bills. Nearly 35 million Americans have diabetes, almost 10 million of whom use insulin to manage their condition. According to an analysis by the American Action Forum, insulin list prices increased by an average of 11 percent per year between 2001 and 2018. While this legislation is long on style, it’s short on substance. Rather than addressing the root causes of outrageous insulin sticker prices, it simply transfers the cost to employers, insurers, and taxpayers by requiring them to make up the difference between the actual insulin cost and the $35 that patients pay. Guess who ultimately pays that price? Despite House Speaker Nancy Pelosi’s claim that this bill is an “important step in the fight to bring down drug prices,” it does nothing to lower overall insulin costs. While diabetics may receive...
    by Dr. Molly Rutherford   Why is insulin, invented more than 100 years ago, still unaffordable for many of America’s 10 million diabetics who rely on it? Politicians reflexively blame pharmaceutical manufacturers. Sen. Bernie Sanders asked rhetorically in November, “What possible reason, other than greed, could there be for the pharmaceutical industry to raise the price of insulin by more than 1,400%?” Michigan Attorney General Dana Nessel recently announced plans to investigate rising insulin prices as a pretext for increased government regulation of the market. “While drug companies profit off of people’s health, they also benefit from a current market in which they control the pricing,” she proclaimed. “Enough is enough.” Yet upon closer inspection, the blame for rising prices for medications like insulin largely falls on the convoluted prescription drug supply chain. Policymakers and state attorneys general who are actually interested in solving this problem rather than just posturing should expand their narrow investigations to include supply chain entities as well. Here’s what they’d find: The drug market is held hostage by middlemen known as Pharmacy Benefit Managers (PBMs). These PBMs are either owned by...
    'Pharma Bro' Martin Shkreli has been ordered to pay nearly $65million to seven states that sued him for antitrust violations, in a decision that has also banned him for working from any pharmaceutical industry.  U.S. District Judge Denise Cote in Manhattan ruled after a trial where the U.S. Federal Trade Commission and seven states had accused Shkreli, the founder of Vyera Pharmaceuticals, of using illegal tactics to keep Daraprim rivals out of the market. Now, the seven plaintiff states - New York, California, Illinois, North Carolina, Ohio, Pennsylvania and Virginia - are entitled to a payout but it's unclear where the money will come from, and what the states will do with it if Shkreli ever pays up.  The states alleged in their case that Vyera hiked the price of Daraprim and illegally created 'a web of anticompetitive restrictions' to prevent other companies from creating cheaper generic versions. Among other things, they alleged, Vyera blocked access to a key ingredient for the medication and to data the companies would want to evaluate the drug´s market potential.  'Pharma Bro' Martin Shkreli pictured...
    The pharmaceutical industry and its allies in the Republican Party are reportedly teaming up to craft challenges to congressional Democrats' drug price reform plan in the hopes of convincing the Senate parliamentarian—an unelected functionary—to help tank the proposal. Earlier this month, Democrats struck a deal on a scaled-back plan that would allow Medicare to directly negotiate prices for a more limited subset of prescription medicines and penalize companies that raise drug prices more rapidly than inflation. The proposed fines for violating the inflation cap would apply to both Medicare and private plans, threatening the pharmaceutical industry's virtually unchecked power to set prices as they please. Though Big Pharma's massive lobbying blitz appeared to have paid off after Democrats significantly weakened their original, broadly popular reform proposal, Politico reported that "the way the plan would extend price controls beyond Medicare... is stoking another battle over" the Build Back Better package, a centerpiece of President Joe Biden's domestic policy agenda. Drug industry lobbyists—who outnumber members of Congress by a ratio of three to one—are "urging Republican senators to scuttle the drug-pricing language...
    It appears that some version of President Joe Biden's jobs-and-infrastructure plan is still alive and could very well be passed soon, despite the strenuous efforts of some of the shadier Democrats in Congress to kill it. The Washington Post reports that Biden is agreeing to scale back the bill from the original $3.5 trillion price tag to $1.9 trillion, largely to placate Sens. Joe Manchin of West Virginia and Kyrsten Sinema of Arizona, two centrist holdouts who have been vocal about their belief that the original bill is simply too big. The Post describes Biden's new number as a possible "truce among Democrats' warring left-leaning and moderate factions." This language is misleading, however, for two major reasons. First, the vast majority of Democrats — 96%, to be exact, a group that encompasses both progressive and moderates— support passing Biden's original bill. The holdouts are just a handful of problem children, whose motivations are often more about ego and corruption than ideology. But just as importantly, such framing falsely implies that this is a clash between spendthrift progressives and the...
    (CNN)Senior US officials meeting with their Mexican counterparts Friday will discuss ways to establish a new security agreement that updates the $3 billion Merida Initiative, a 2008 pact meant to fight drug trafficking and organized crime, State Department spokesman Ned Price said Thursday."When it comes to Merida, look, this is an initiative that has been on the books for, I think it is, 13 years now," Price told reporters at a briefing. "We believe we are due for an updated look at our bilateral security cooperation, and we need an approach that addresses the concerns and the priorities of both governments, and this will really be one of the core elements of the discussions tomorrow."Secretary of State Antony Blinken will be accompanied by Homeland Security Secretary Alejandro Mayorkas and Attorney General Merrick Garland on Friday's trip to Mexico for meetings the White House has described the first US-Mexico High-Level Security Dialogue.Price said the US hopes to preserve "significant gains" from the Merida Initiative, which some Mexican officials have criticized, arguing the infusion of money led to increased violence, arms trafficking...
    KATIE Price insisted on taking weekly drug tests to "prove" she was clean - but suddenly stopped before her car crash. In March she told The Sun she was taking regular tests to put her family at ease, after her constant partying and her breakdown last year. 2Katie Price had been taking regular drugs tests to prove she was cleanCredit: Instagram 2She told The Sun in March that she was honest with her kids about her breakdown last year and turning to drugsCredit: Instagram However, the reality star was thrown off track when she signed up to tour the country with her make-up classes. A source said: "Katie went off on holiday and then she went on tour with the make-up masterclasses and the tests didn't happen. "Then everything seemed to go off the rails - all of her friends and family are devastated as she was doing so well." Katie, 43, first turned to drink and drugs last year after an avalanche of personal problems spiralled. Her mum Amy is terminally ill with a lung disease, disabled son...
    KATIE Price's fiancé Carl Woods has vowed to stand by her side after her alleged "drug and drink driving" crash. The 43-year-old star was taken to hospital and arrested after rolling her car at 6.20am today. 3Carl Woods released a statement this afternoon after Katie Price's crash 3Carl vowed to stay by her sideCredit: INSTAGRAM 3Katie spoke about her driving ban on Good Morning Britain yesterdayCredit: Rex Car dealer Carl, 32, released a statement on Instagram in which he called Katie "a rough diamond". He wrote: "Relationships are tested. People test each other - but when you love someone like I love Katie. You enjoy the highs and good times together. "Katie is a rough diamond. She has her imperfections however they make perfect to me. She just needs that extra help to be polished. The sunlight will shine through her once again and the sparkles that she brings to everyone will return. "I love you Katie 100%. My Dolly, always here, always will be." Katie's family also released a statement revealing they've been worried by issues in...
    KATIE Price has been rushed to hospital after a dramatic 'drug and drink-drive' crash that could leave her facing jail, The Sun can reveal. The star, who is understood to be banned from driving, is currently in hospital after the smash. 4Katie Price was arrested on drink-driving charges after a crashCredit: Getty 4The star, seen here in March, is understood to be serving a driving banCredit: Goff Police at the scene arrested the 43-year-old reality star for alleged drink-driving and she may now face jail time if charged and found guilty. The star is already thought to be serving a driving ban and was not due to get her licence back until 13 October this year. A source explained: "Katie rolled her car and was in a bad way when police arrived. "She's in hospital now and everyone is desperately worried about her and why she was driving." A Sussex Police spokeswoman said: "Police responded to reports of a single-vehicle collision on the B2135 near Partridge Green around 6.20am on Tuesday (September 28). "A woman, 43, was arrested on suspicion...
    President Joe Biden will on Thursday outline plans to reduce the cost of prescription drugs and call on Congress to take action on cutting the spiralling price of life-saving medication.  An official said it would be a 'forceful' message to Congress to deliver savings to millions of Americans by allowing Medicare to negotiate drug prices. At present, Medicare is allowed to negotiate prices for every other type of health except drug prices.   'Pharmaceutical companies do ground-breaking, life-saving work, but there is a difference between developing clinical breakthroughs and driving up prices for the drugs Americans rely on,' the White House said in a statement previewing Biden's remarks. 'Change is sorely needed.' President Joe Biden will on Thursday outline plans to reduce the cost of prescription drugs and call on Congress to take action on cutting the spiralling price of life-saving medication The White House handed its Twitter feed over to Gail, a diabetic mother, to highlight the high costs of prescription drugs Biden wants to penalize drug companies if the price of their products rises faster...
    (CNN)Two House committees have launched an investigation into the approval and pricing of the Alzheimer's disease drug aducanumab, made by the company Biogen and sold under the brand name Aduhelm.The US Food and Drug Administration approved the drug earlier this month under its "accelerated approval" program, although an FDA advisory committee concluded last year that there was not enough evidence to support the effectiveness of the treatment. New Alzheimers drug aducanumab: cost, side effects, timeline and other questions answeredBiogen announced in early June that the wholesale cost of treatment -- which requires an infusion once every four weeks -- is about $4,312 per infusion, making the annual cost about $56,000 for a high dose."We have serious concerns about the steep price of Biogen's new Alzheimer's drug Aduhelm and the process that led to its approval despite questions about the drug's clinical benefit," House Democrats Carolyn Maloney and Frank Pallone Jr. said in a statement issued Friday about the investigation by the Committee on Oversight and Reform and the Committee on Energy and Commerce."We strongly support innovative treatments to help the...
    From the right: The Price of Defunding Police Democrats who rushed to join the #DefundThePolice drive now realize “that their spineless pandering to the woke mob might for once come at a steep political cost, not to mention a societal cost as well,” note the editors of the Washington Examiner. To backtrack, “Democrats tried to redefine” defunding as just reallocating of funds, but “you cannot redefine away a cliff — you can only fall off of it.” As cities like Seattle and Denver slash police budgets, “crime problems are developing for jurisdictions that took the strongest and most anti-police positions.” These cities are “cutting their own throats, taking enormous risks by sending low-paid rookies with inferior training out into the streets.” For their own party and for the common good, “it would be worth Democrats’ while to disown this terrible idea.” Business watch: Thank the System for Vaccine The COVID-19 vaccine rollout “represents one of the most groundbreaking logistical feats in human history,” cheers American Investment Council head Drew Maloney at RealClear Markets. The world launched “the biggest mass-immunization campaign...
    Wright, dArnaud lead Braves to sweep Marlins, reach NLCS 10 Products That Upgrade Your Home for Less Than $45 Most Americans don't know these lucrative Social Security "secrets" Ad Microsoft Incredible Blanket Puts Humans In A Deep Sleep, Melting Stress Away Ad Microsoft 23 Gadgets That Could Sell Out Before the Holidays Ad Microsoft Full screen 1/24 SLIDES © ADragan / Getty Images/iStockphoto President Donald Trump has been administered several different treatments — some of which are still being investigated — to relieve his coronavirus symptoms and shorten the course of his illness. These included Regeneron’s investigational monoclonal antibody therapy, antiviral drug remdesivir, corticosteroid drug dexamethasone, supplemental oxygen, zinc, vitamin D, famotidine, melatonin and daily aspirin, CNN reported. After the details of Trump’s treatment were reported, shares of...
    Editor’s note: We endeavor to bring you the top voices on current events representing a range of perspectives. Below is a column arguing that price controls have never worked and will not succeed in lowering drug costs in the long term. You can find a counterpoint here, where Nan Hayworth, an ophthalmologist and former Congresswoman for New York’s 19th congressional district, argues that price controls on prescription drugs will be beneficial to the American people and will ensure that Americans will never pay more for drugs than people in other developed countries. Price controls distort markets, create shortages and exacerbate the problem they are intended to solve. This has been true for thousands of years. In their 1978 book, Forty Centuries of Wage and Price Controls, authors Robert Scheuttinger and Eamonn Butler reviewed the damage caused by price controls, from the Babylonian Code of Hammurabi, to President Nixon’s Economic Stabilization Act, to rent control in New York and San Francisco. Tens of millions of Americans still remember what happened when President Nixon imposed wage and price controls in the early...
    A COCAINE-fuelled Tinder threesome turned to murder when a "date" tipped off an armed robber gang about a drug and cash stash. Luke Lembryk, 29, was stabbed to death when two men broke into his mum's home in western Sydney in December 2019. 5Luke Lembryk, pictured, was murdered at his mother's home in December 2019 5Police allege that one of his dates tipped off an armed robbery gang Police allege his flashy showing of cash and drugs led to his murder after one of his dates tipped off an armed robbery gang that he was an "easy target" for a lucrative score. Plumber Luke reportedly matched with Lisa Price on the dating app in August 2019, according to court documents. Price and her friend attended Luke's home where all three did three lines of cocaine from a freezer bag, according to the court documents. Luke reportedly waved around a stack of $50 notes containing up to $15,000 while the trio were chatting, according to the Sydney Sunday Telegraph. There was also a blazer hanging from...
    Treatments with Remdesivir, the first drug that has been shown to be effective in treating COVID-19, will sell for $ 390 to the governments of developed countries The American Pharmacist Gilead announced this Monday that he will sell his drug Remdesivir, the first that has been shown to be effective in treating COVID-19, to 390 dollars, about 8 thousand 500 pesos, the vial for Governments from developed countries, which would raise the price of the most common treatment to 2,340 dollars per patient, that is, more than 50,000 pesos and the one of the longest therapies to 4,290 dollars, more than 90 thousand pesos. In the case of developing countries, Gilead indicated that it has reached several agreements with generic drug producers to be able to offer the treatment at a lower price and facilitate access to it worldwide. In U.S, since the use of Remdesivir for patients with coronavirus, hospitals have been using doses donated by Gilead, which will start charging for the drug starting in July. In your country, Gilead has decided to set the same...
    Gilead Sciences' price tag for its drug that has been used to treat COVID-19 is raising questions and concerns about affordability amid a coronavirus pandemic that has infected more than 10 million people and claimed over half a million lives. [ READ: The Race to a Coronavirus Vaccine ]Remdesivir will cost $2,340 for a five-day course in all developed countries except the U.S., where it will cost $3,120 for the typical patient with private insurance, the company announced on Monday. Trial results for the drug showed that it reduced the median recovery time for COVID-19 patients by four days, but it did not have a statistically significant impact on mortality rates.Photos: Hospitals Fighting Coronavirus View All 24 ImagesThe Department of Health and Human Services announced Monday that it has secured more than 500,000 treatment courses of the drug for American hospitals through September, which is nearly all of Gilead's projected production of the drug for that timeline. "To the extent possible, we want to ensure that any American patient who needs remdesivir can get it," HHS Secretary Alex Azar said in...
    Catie KeckJust now•Filed to:covid-19covid-19coronavirusremdesivirSARS-CoV-2SavePhoto: Ulrich Perrey (Getty) The pharmaceutical company behind a drug that’s been approved by the Food and Drug Administration for emergency use for covid-19 patients announced today the drug will cost $3,120 per typical treatment course for individuals with private insurance plans. Gilead Sciences’ experimental antiviral remdesivir was authorized for use by the health agency last month after research indicated the drug could cut the recovery time for hospitalized covid-19 patients by several days when compared with a placebo group in a controlled trial. In an open letter about the drug’s pricing—which will have two tiers in the U.S.—Gilead CEO and Chairman Daniel O’Day said most patients will receive a five-day treatment course using six vials of the drug. Gilead has set a price of $390 per vial for governments of “developed countries,” a price the company says will help avoid country-by-country price negotiations that could delay access. Private insurance companies in the U.S., meanwhile, will be charged $520 per vial. That puts the total per patient treatment costs $2,340 and $3,120, respectively. These prices, O’Day argued,...
    WASHINGTON - The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries. Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors. "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. However, the price was swiftly criticized; a consumer group called it "an outrage" because of the amount taxpayers invested toward the drug's development.   The treatment courses that the company has donated to the U.S. and other countries will run out in about a week, and the prices...
    The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries.Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors."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.However, the price was swiftly criticized; a consumer group called it "an outrage" because of the amount taxpayers invested toward the drug's development.The treatment courses that the company has donated to the U.S. and other countries will run out in about a week, and the prices will apply to the drug after that, O'Day said.In...
    The use of Remdesivir for coronavirus sufferers in the United States has been made possible by donations from the pharmaceutical company Gilead. (Free Press Photo: EFE) The American pharmacist Gilead announced Monday that it will sell its drug Remdesivir, the first that has been shown to be effective in treating covid-19, at $ 390 a vial for governments of developed countries, which would raise the price of the most common treatment at $ 2,340 per patient and the longest therapies at $ 4,290. In the case of developing countries, Gilead indicated that he has reached several agreements with producers of generic drugs to be able to offer the treatment at a lower price and facilitate access to it worldwide. In the United States, since the use of Remdesivir for coronavirus sufferers was approved in May, hospitals have been using doses donated by Gilead, which will start charging for the drug starting in July. In his country, Gilead has decided to set the same price of $ 390 per vial for public health programs such as Medicare, while for...
    The manufacturer of Remdesivir, an antiviral drug that has shown promise in treating COVID-19, has set the price of a 5-day course of treatment for a U.S. patient at $2,340, Reuters reported. As previously reported by The Inquisitr, Remdesivir has been around for decades and has been used to treat Ebola, another potentially-fatal illness caused by a virus. Back in April, its manufacturer, Gilead Pharmaceuticals, announced that one limited study of about 400 patients showed that half of the sickened patients who were given the drug were discharged from the hospital within 14 days; some were discharged in as little as 5 days. At the time, Aruna Subramanian, a lead investigator of the study, called the results “encouraging.” “These data are encouraging as they indicate that patients who received a shorter, 5-day course of remdesivir experienced similar clinical improvement as patients who received a 10-day treatment course,” she said. Though early results are not the same thing as hard, scientific data gleaned from multiple, peer-reviewed clinical studies under controlled scientific studies (a process that can take years), the early data...
    Meaghan Ellis June 29, 2020 0 Comments Gilead Sciences unveiled the cost of its five-day coronavirus treatment. On Monday, Gilead Chairman and CEO Daniel O’Day penned an open letter outlining the costs for remdesivir treatments. The cost will be $2,340 per COVID-19 patient for Medicare and “governments of developed countries,” which equates to approximately $390 per vial. However, a U.S. patient with private health insurance will be charged $3,120 — an estimated minimum of $520 per vial — or up to $5,720 per patient for a longer duration. However, O’Day insists the prices actually below market value in an effort to offer “broad and equitable access.” “As with many other aspects of this pandemic, we are in uncharted territory in pricing remdesivir,” O’Day wrote. “Ultimately, we were guided by the need to do things differently.” He continued, “As the world continues to reel from the human, social and economic impact of this pandemic, we believe that pricing remdesivir well below value is the right and responsible thing to do.” We announced the price today for our investigational antiviral...
    FOSTER CITY (CBS / AP) — The Bay Area maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries. Gilead Sciences of Foster City announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors. “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. However, the price was swiftly criticized; a consumer group called it “an outrage” because of the amount taxpayers invested toward the drug’s development. The treatment courses that the company has donated to the U.S. and other countries will run out...
    Coronavirus — Gilead performs version testing of inhaled remdesivir 1:00 . – Gilead Sciences, the company that makes remdesivir to treat covid-19, announced in an open letter Monday morning that it decided to set a price of $ 390 per vial for the U.S. government, which would include Medicaid, and for the governments of developed countries. A typical five-day treatment would include six vials, which would equal $ 2,340 per patient, said Daniel O’Day, president and CEO of Gilead Sciences, in the letter. The US government will continue to administer remdesivir allocations in the US to hospitals until September, the company said. The letter adds that the price for private US insurance companies will be $ 520 per vial, which adds up to $ 3,120 per patient for a five-day, six-vial treatment. “As with all of our actions on remdesivir, we approach this with the goal of helping as many patients as possible, as quickly as possible, and in the most responsible manner. This has been our benchmark, from collaborating to finding quick answers on safety and efficacy,...
    FOSTER CITY, Calif. (CBSDFW.COM/AP) – The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries. Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors. “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. However, the price was swiftly criticized; a consumer group called it “an outrage” because of the amount taxpayers invested toward the drug’s development. The treatment courses that the company has donated to the U.S. and other countries will run out in about a week, and the...
    By MARILYNN MARCHIONE, AP Chief Medical Writer The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries. Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors. “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. The 250,000 treatment courses that the company had donated to the U.S. and other countries will run out in about a week, and the prices will apply to the drug after that. In the U.S., federal health officials have allocated the limited supply to...
    The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries. Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors. “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. The 250,000 treatment courses that the company had donated to the U.S. and other countries will run out in about a week, and the prices will apply to the drug after that. In the U.S., federal health officials have allocated the limited supply to states, but that will end in...
    WASHINGTON (AP) — In a major legal setback for President Donald Trump on a high-profile consumer issue, a federal appeals court has ruled that his administration lacks the legal authority to force drug companies to disclose prices in their TV ads. The ruling denies Trump an easy-to-understand win on a major reelection priority for the White House, bringing down the cost of prescription medicines. Where most plans to overhaul the cost of drugs are complex, mandating that companies disclose prices is something any consumer can relate to. Separate from the court case, legislation that would lower drug costs for Medicare beneficiaries with high bills is stuck in Congress. It’s unclear that Trump can get it moving, since it would require some hard compromises for both Republicans and Democrats. There’s also a separate bill that would require drug companies to disclose their prices in consumer advertising. Trump, however, is not empty-handed. His administration recently brokered an agreement with drug companies and insurers that would give Medicare recipients taking insulin the ability to limit their copays to $35 a month, starting next...
1