Gilead Sciences announced the potential cost of the COVID-19 drug remdesivir on Monday, revealing an expensive price for the United States.

What’s happening:

  • Gilead Sciences said the regimen to use remdesivir to conquer the novel coronavirus will require six vials over five days.
  • Each vial will cost $390 in the United States and other developed countries.
  • Each person would need to pay $2,340.
  • The cost will be $520 per vial for private insurance companies, bringing the total to $3,120.
  • Gilead Sciences CEO Daniel O’Day said: “In making our decision on how to price remdesivir, we considered the full scope of our responsibilities. We started with our immediate responsibility to ensure price is in no way a hindrance to ensuring rapid and broad treatment. We also balanced that with our longer-term responsibilities: to continue with our ongoing work on remdesivir, to maintain our long-term research in antivirals and to invest in scientific innovation that might help generations to come.”
  • The company said the drug could save hospitals $12,000 per patient because it helps people leave hospital care earlier.

However ...

  • Per Fast Company, the U.S. Food and Drug Administration has not approved the drug. However, the FDA authorized emergency use of the drug for people who severe cases of the novel coronavirus.