Skip to comments.Gilead Sciences (GILD): Analyst Comments on Letter from Democratic Leaders
Posted on 03/21/2014 10:35:27 AM PDT by RoosterRedux
Gilead Sciences (NASDAQ: GILD) declined on Friday after Democratic leaders request a briefing by Gilead on Hepatitis C drug pricing Link Here. Analyst Robyn Karnauskas of Deutsche Bank spoke to management about the letter, which discusses concerns around an affordability. The company noted that these types of letters have happened from time to time in HIV.
"Rep Waxman has been very vocal around drugs during his tenure. However, this letter is also written from the minority party in Congress currently. Generally, we think that not much comes out of these briefs..."
(Excerpt) Read more at streetinsider.com ...
A new pill to treat hepatitis C raises difficult questions about fair pricing, not only in the United States and other affluent nations but in developing countries around the world. Hepatitis C, which afflicts some 150 million people globally, often without symptoms for years, can cause fatigue and fever, cirrhosis or liver cancer.
The pill, known as Sovaldi, or generically as sofosbuvir, costs $84,000 for a standard 12-week course of treatment. That breaks down to $1,000 for each pill, taken daily. The manufacturer, California-based Gilead Sciences, says private insurers are already covering Sovaldi. The question is whether insurers and public programs like Medicare and Medicaid should have to pay so much for this drug, driving up costs for taxpayers and private policyholders.
Gilead says the price is consistent with the cost of previous treatment regimens (a contention disputed by independent experts) and is reasonable given that the drug can have fewer side effects and cures a higher percentage of patients compared with other drugs. In the long run, the company claims, Sovaldi could save money for insurers by preventing patients from getting sicker and needing costly medical care.
B*st*rd probably shorted the stock before his letter was intentionally released to the public .....
Since when is what price a private business charges of political concern? When government is trying to impose fascism.