Big Price, Modest COVID-19 Drug

***For Immediate Release***

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FOR IMMEDIATE RELEASE June 29, 2020

Contact: Kate Stotesbery 202-225-4865

Big Price, Modest COVID-19 Drug

Washington, D.C. – U.S. Representative Lloyd Doggett (D-TX), Chair of the House Ways and Means Health Subcommittee, released the following statement regarding Gilead's announcement this morning that it will charge about $3,120 for a treatment course of remdesivir per patient with commercial insurance in the United States:

"An outrageous price for a very modest drug, which taxpayer funding saved from a scrapheap of failures. President Trump's refusal to stop pandemic profiteering with a stroke of a pen is a green light to other manufacturers to exploit this tragedy. In addition, taxpayers will be charged billions more for the same medications that they have already paid significantly for drugmakers to develop. Big prices and big expenditures lie ahead."

Congressman Doggett has been seeking information from both Secretary Azar and Gilead on remdesivir pricing for almost two months. Neither disclosed the huge taxpayer expenditure that the Trump Administration is making today to purchase remdesivir supplies through September. Copies of related correspondence are available upon request.

Congressman Doggett recently introduced the TRACK Act (H.R. 7288), new bipartisan legislation to craft a new, strong oversight tool; it would reveal to taxpayers how billions of public funds are being used—information any private investor would demand. He joined with bipartisan sponsors in also authoring the MMAPPP Act, which seeks universal access through fair pricing and open licensing, to prevent Big Pharma from co-opting the fruit of taxpayer investments and charging sky-high prices.

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