Gilead’s going to make plenty money on remdesivir after all
For pretty much all of 2020, Gilead Sciences was steadfast that it didn’t see the Covid-19 treatment remdesivir as a commercial opportunity, leading to lots of hand-wringing on Wall Street over whether the company would ever recover its investment. But now that we know how much the drug will cost, pharma's bean counters don’t sound so alarmed.
The consensus among sell-side analysts is that remdesivir will bring in about $2 billion a year for Gilead well into 2026, according to Evaluate Vantage. And there are plenty of outliers. The analysts at Cowen and Baird forecast about $4 billion in revenue for 2021, while SVB Leerink believes remdesivir will mint upwards of $8 billion a year into 2023.
Those figures come despite the fact that Gilead’s price for remdesivir — $3,120 for patients with private insurance and $2,340 for those covered by government plans — came in well below analysts’ expectations.
The consensus among sell-side analysts is that remdesivir will bring in about $2 billion a year for Gilead well into 2026, according to Evaluate Vantage. And there are plenty of outliers. The analysts at Cowen and Baird forecast about $4 billion in revenue for 2021, while SVB Leerink believes remdesivir will mint upwards of $8 billion a year into 2023.
Those figures come despite the fact that Gilead’s price for remdesivir — $3,120 for patients with private insurance and $2,340 for those covered by government plans — came in well below analysts’ expectations.
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