US buys up world stock of key Covid-19 drug remdesivir [split topic]

[dissolute ocelot]

US buys up world stock of key Covid-19 drug remdesivir.

[sirhenry]

There were two stories about this on the news but I couldn't be arsed to follow up either for the details, but it looked suspiciously like what has happened is:

the US buys up 90% of Gilead's production for the next 3 months. For this they pay top price ($3000+ per dose) "to cover the cost of development";

Then Gilead licenses 5 other companies to produce as much of the stuff as they like for free for 127 of the world's poorest countries (i.e. most of the rest of the world). For free. https://www.statnews.com/pharmalot/2020/05/12/gilead-generics-remdesivir-covid19-coronavirus-licenses/

Could be a lot worse...

[Sheffield Wednesday]

Looks like their gonna need it 😰😰😰

[Barry Admin]

sirhenry: I didn't think that was quite right as I read it was still under patent, but I had a quick look at your link and it says:

Under the agreements, the companies can set their own prices, but will not have to pay royalties to Gilead until the World Health Organization declares an end to the public health emergency for the novel coronavirus, or until another medicine or vaccine is approve to treat or prevent Covid-19. The companies include Cipla, Hetero Labs, Jubilant Lifesciences, Mylan, and Ferozsons.

Which doesn't really sound "free".

[sirhenry]

It was the "will not have to pay royalties" that I read as being free. Admittedly only until the WHO declare an end to the pandemic, but surely that's the important part.

And by making the information public, I would assume that what they charge countries will be towards the low end because the countries will know they are producing it royalty-free. And that because there are several companies making it now, none should be able to price hike unless they form a cartel.

I'm trying to find a bright side, you cynical bugger...

[Johnny Yesno]

The Handmaid's Tale published 1985.
Gilead Sciences, Inc. founded 22/Jun/1987.





It'll be fine.