June 29, 2020
Gilead’s Remdesivir Price Gouging is a shameful benefit during a pandemic
FOR IMMEDIATE RELEASE
The following statement was made by Richard Fiesta, Executive Director of the Alliance for Retired Americans, on Gilead’s announcement that the price of remdesivir in the U.S. will increase 30% from $ 2,340 per patient to $ 3,120:
“Gilead, a pharmaceutical company, announced today that it has increased the price of remdesivir, the promising COVID-19 treatment, by 30%. A 5-day treatment in the US now costs more than $ 3,000. Americans are already paying the highest prices for prescription drugs in the world. This is another sad example of a pharmaceutical company that is taking advantage of a global pandemic and bringing profits to people. Our Allianz pensioners, the most vulnerable COVID-19 population, have to pay for this greed.
“The American people invested at least $ 70 million in tax dollars To develop remdesivir. However, we cannot say how much Gilead can charge for it because our government does not question our investment. Congress must act decisively to finally end the monopoly power of the pharmaceutical industry and set the prices for life-saving drugs as high as they want.
“Gilead has shown that we cannot trust pharmaceutical companies to do the right thing and make critical medication affordable and affordable for those who need it.” Seniors are at greatest risk during the coronavirus pandemic and are likely to be the most affected by Gilead’s actions.
“Congress should have addressed this problem years ago – by passing laws that prevent pandemic profits and require Medicare to negotiate lower drug prices on behalf of all Americans and taxpayers. The need for strong action to curb industry practices has never been so clear.
“Gilead is not the only pharmaceutical company to cut prices. Because the federal government is investing billions of our tax dollars in research into a COVID-19 vaccine or a cure, we need to stop these unscrupulous companies.”
The Alliance for Retired Americans is a grassroots advocacy organization with more than 4.4 million members across the country fighting for the security of all Americans’ retirement.
Contact: David Blank, [email protected]
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