State treasurers urge Gilead to lower the price of remdesivir and not pursue “unreasonable profits”
Nearly a dozen state treasurers are asking Gilead Sciences (GILD) to lower the price of its experimental remdesivir treatment for Covid-19, arguing the company is attempting to market an “old drug at prices that are disconnected from economic reality.”
In a letter to Gilead chief executive Daniel O’Day, the state officials cautioned that Gilead should not take “financial advantage” of the pandemic to pursue “unreasonable profits” because it “sets a dangerous precedent for future treatments in development.” The letter was sent by treasurers in Ohio, Pennsylvania, Nevada, Maine, Iowa, Oregon, Colorado, Wisconsin, Texas, Rhode Island, and Massachusetts.
