The maker of the COVID-19 drug remdesivir announced it's pricing its antiviral medication at $520 a dose for most U.S. patients.
On Monday, drug maker Gilead Sciences said that comes out to $3,120 for patients with private insurance for a "typical" five-day treatment course of six vials.
For the rest of the developed world, where governments directly negotiate drug prices, the cost will be about a third less, or $390 per vial.
In a letter, the chairman and CEO of California-based Gilead Sciences said remdesivir is the "first antiviral to have demonstrated patient improvement in clinical trials for COVID-19." He said it priced remdesivir well below the value it provides.
The Wall Street Journal reported that remdesivir sales could reach $2.3 billion this year, with a profit of about $1.3 billion. Still, one nonprofit group that analyzes pharmaceutical costs told the Journal that the pricing was "responsible."
Remdesivir is the only drug to receive an emergency use authorization from the FDA to treat coronavirus patients. The drug is currently administered through infusions.
The Trump administration said it has secured more than 500,000 treatment courses of remdesivir for American hospitals through September.
Contains footage from CNN.
