Gilead Dragged for "Price-Gouging" New COVID-19 Treatment

Yes, the same company behind Truvada.

Truvada manufacturer Gilead Sciences has set its price for a drug being tested as a treatment for COVID-19, and LGBTQ activists are not having it.

This Monday, June 29, Gilead chairman and CEO Daniel Day released a lengthy statement about Remdesivir, "the first antiviral to have demonstrated patient improvement in clinical trials for COVID-19." Though the promising treatment could save lives as the coronavirus continues to spread in certain areas across the country, it won't be cheap: If Day gets his way, a five-day course of Remdesivir will cost a staggering $3,120 per patient with private insurance in the U.S.

"At the level we have priced Remdesivir and with government programs in place, along with additional Gilead assistance as needed, we believe all patients will have access," Day wrote.

DENIS CHARLET/AFP via Getty Images

RESTRICTED TO EDITORIAL USEA picture taken on May 11, 2012 shows a box of antiretroviral drug Truvada displayed on a table in the Hospital of the northern French city of Bethune. The U.S. Food and Drug Administration (FDA) Antiviral Drugs Advisory Committee approved Gilead Sciences' Truvada as a preventative treatment for people who are at high risk of contracting HIV through sexual intercourse on May 10, 2012. Already approved to treat people infected with HIV, Truvada would be a milestone in the worldwide AIDS epidemic by offering a tablet capable of preventing infection in high-risk individuals. AFP PHOTO / DENIS CHARLET / AFP / DENIS CHARLET (Photo credit should read DENIS CHARLET/AFP via Getty Images)

It's not the first time Gilead has priced its pharmaceuticals absurdly high. As NewNowNext previously reported, the company patented Truvada, the brand-name version of Pre-exposure prophylaxis (PrEP), a preventative drug that drastically increases the risk of new HIV infections when used properly. After years of pressure from HIV/AIDS activists, the Food and Drug Administration (FDA) sued Gilead last fall, alleging that the company raked in billions in profit off a drug created through taxpayer-funded medical research with no return to taxpayers.

After news of Remdesivir's pricing broke, Twitter users denounced Gilead for "price-gouging" amid a global pandemic.

Vermont Sen. Bernie Sanders also chimed in, demanding that the company's greed "must be stopped."

To date, COVID-19 has claimed the lives of more than 125,000 million Americans, according to The New York Times. There are currently 2.5 million confirmed cases nationwide.

Its devastating physical toll aside, the pandemic has also ravaged the financial stability and mental health of LGBTQ people across the country.

Latest News