Gilead Sciences Inc., the Foster City, CA-based American multinational biopharmaceutical company primarily engaged in developing anti-viral drugs for HIV, Hepatitis B & C alongside Influenza, could witness an annual sales worth of $7 billion for its coronavirus treatment Remdesivir by 2022, since several Governments across the world appeared to be interested in stockpiling the drug to stay prepared for a second-wave of pandemic outbreak or a resurgence of cases followed by an ease of lockdown measures, SVB Leerink, a Boston, Massachusetts-based specialty investment banking company focused on healthcare had unveiled.
As a matter of fact, latest research data from SVB Leerink came forth days after Gilead Inc.’s human trial had shown significant improvement in reducing the days of hospital stays for severely ill patients in the United States, India and S.
Korea, however, had shown little or no response in late-stage or critically ill patients, while some European nations had also shown intent to use the anti-viral drug that blocks a certain phase of its reproduction linked to mRNA (messenger RNA).
On top of that, the US FDA (Food and Drug Administration) had also approved the drug for critically ill patients, however, Gilead could be deprived of potential revenues from the small-scale developing countries, since a UN accord, which comes into play in times of grave emergencies such as a pandemic, could nullify the patency of Remdesivir for developing or poorer nations and other developed or emerging market countries could import the drug from the poorer countries at a cheaper price instead of purchasing directly from the Gilead Inc., suggested analysts.
However, contemplating the losses stemmed from the nullification of its patency in poorer countries, which could develop the drug without Gilead Inc.’s permission according a UN accord, SVB Leerink analysts said that the drug could bring in at least $7 billion in sales in the United States alone.
Gilead Inc. yet to set a price for Remdesivir
Although the American multinational biopharmaceutical company had already delivered 1.5 million vials free of cost in the US hospitals, the drugmaker had yet to set up a price tag for its landmark development in the early-stage pandemic treatment, however, an SVB Leerink analyst, Geoffrey Porges, who had recently upgraded his rating for Gilead Inc.
shares to “outperform” from a prior “buy,” said that Gilead Inc.’s Remdesivir could be priced at $5,000 per course in the US, $4,000 in Europe and $2,000 per course elsewhere in the world.