Remdesivir will be a business after all
Gilead Sciences, facing pressure from Wall Street over recouping the costs of making remdesivir, has a message for skittish investors: There’s money to be made in treating Covid-19.
In a fireside chat with SVB Leerink analyst Geoffrey Porges, the company’s chief financial officer said there’s a “very real possibility that Gilead could have some revenues from remdesivir to offset the ongoing expenses,” starting in the second half of this year. Gilead previously said it would spend up to $1 billion on the drug in 2020, setting off alarm bells among investors worried the company would wreck its balance sheet in the process.
What Gilead hasn’t disclosed is how much it will charge for remdesivir, which has demonstrated moderate but meaningful benefits for patients with Covid-19. The company is exploring alternative approaches to pricing and payment, according to CFO Andrew Dickinson, and it’s in the process of determining how much money remdesivir could save hospitals to prepare its case.
Read more.
In a fireside chat with SVB Leerink analyst Geoffrey Porges, the company’s chief financial officer said there’s a “very real possibility that Gilead could have some revenues from remdesivir to offset the ongoing expenses,” starting in the second half of this year. Gilead previously said it would spend up to $1 billion on the drug in 2020, setting off alarm bells among investors worried the company would wreck its balance sheet in the process.
What Gilead hasn’t disclosed is how much it will charge for remdesivir, which has demonstrated moderate but meaningful benefits for patients with Covid-19. The company is exploring alternative approaches to pricing and payment, according to CFO Andrew Dickinson, and it’s in the process of determining how much money remdesivir could save hospitals to prepare its case.
Read more.
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