Gilead is launching a phase 1 clinical trial of an inhaled version of remdesivir, a drug used to treat Covid-19, that could be administered to patients outside of the hospital
This is likely to be fast-tracked $GILD - Gilead launches early-stage study of inhaled remdesivir
Gilead’s shareholders want exorbitant profits from Remdesivir, even though it was the public that enabled its development.
As a company, Gilead is now worth over $15 billion more than before the pandemic, in part because it expects to make enormous profits by charging over $3,000 for a drug they had already developed years ago. Their greed must be stopped.
Remdesivir, a potential treatment for coronavirus, has boosted Gilead's stock price in recent days. But here's the catch: Remdesivir was developed with taxpayer funding through CDC and NIH. No drug that was developed with public dollars should be used to pad pharma profits.
Taxpayers provided funding for the development of this drug. Now Gilead is price-gouging off it during a pandemic. Beyond disgusting. Coronavirus treatment must be free to all.
As Gilead's stock price rises on reports of remdesivir, remember that the drug was developed with a $37.5 million grant from the federal government paid for by the taxpayers. Once again, Big Pharma is set to profit on the taxpayer's dime.