U.S. group raises pricing recommendation for Gilead’s remdesivir in COVID-19

(Reuters) – Gilead Sciences Inc’s antiviral remdesivir could be priced up to $5,080 per course based on benefits shown in COVID-19 patients, a U.S. drug pricing group suggested on Wednesday, raising its prior recommendation of around $4,500.

The Boston-based Institute for Clinical and Economic Review (ICER), however, suggested a lower price range of around $2,520 to $2,800, if steroid dexamethasone were to be cleared for use in COVID-19.

The cheap and widely used steroid has been hailed as a breakthrough after it was found to reduce death rates in severely ill patients.

What Gilead could charge for remdesivir after its pledged donations are used up has been a topic of intense debate as millions of infections crop up across the country. The virus has infected over 2 million Americans and killed over 120,000.

Wall Street analysts say the drug could generate billions of dollars in revenue over the next couple of years, assuming the pandemic continues.

But pharmaceutical industry consultants and former regulators have suggested that Gilead would need to avoid the appearance of taking advantage of a global health crisis to rake in profit.

(Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Shinjini Ganguli)