Elizabeth Warren wants Gilead CEO Daniel O'Day in
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Posted On: 06/04/2021 8:58:02 PM
Elizabeth Warren wants Gilead CEO Daniel O'Day in the hot seat to talk drug pricing and competitiveness
This is not directly related to CYDY, but it would be interesting to see Gilead get grilled over drug prices. Note in bold below.
https://endpts.com/elizabeth-warren-wants-gil...itiveness/
Given Gilead’s experience in developing storied new drugs for hepatitis C and Covid-19, and marketing them with hefty price tags, Massachusetts Sen. Elizabeth Warren (D) sent a letter on Friday to CEO Daniel O’Day, calling on him to testify before a subcommittee of the Senate Finance Committee on “Promoting Domestic Competition and International Competitiveness.”
While noting that “the prohibitively high prices of Gilead’s drugs have made it hard for patients to access the lifesaving treatments they need, forced taxpayers to bear the brunt of high costs, and inhibited competition,” Warren said she’s offering O’Day “an opportunity to offer context on pharmaceutical competition and the burden of high drug prices on patients and the American public.”
She also singled out some of the high launch prices that Gilead charged for certain drugs, like its Covid-19 drug remdesivir, which brought in $2.8 billion in sales in 2020, as well as the $84,000 price tag for a 12-week course of the hep C drug Sovaldi, and $16,600-a-year for Descovy, a follow-on product similar to its HIV prophylaxis drug Truvada, which has since gone generic.
O’Day, who took home a total pay package of just under $19 million in 2020, down from $29.1 million a year earlier, previously testified before a House committee in 2019 on the company’s HIV drug franchise. A little more than a year ago, Gilead also sued the CDC, accusing the agency of breaking longstanding agreements by “secretly” obtaining patents on Truvada and failing to notify the company for nearly a decade.
But in the case of remdesivir, the GAO said in April that the US federal government’s contributions to the research on it did not result in any patent rights.
Gilead did not immediately respond to a request for comment on whether O’Day would accept the invitation.
This is not directly related to CYDY, but it would be interesting to see Gilead get grilled over drug prices. Note in bold below.
https://endpts.com/elizabeth-warren-wants-gil...itiveness/
Given Gilead’s experience in developing storied new drugs for hepatitis C and Covid-19, and marketing them with hefty price tags, Massachusetts Sen. Elizabeth Warren (D) sent a letter on Friday to CEO Daniel O’Day, calling on him to testify before a subcommittee of the Senate Finance Committee on “Promoting Domestic Competition and International Competitiveness.”
While noting that “the prohibitively high prices of Gilead’s drugs have made it hard for patients to access the lifesaving treatments they need, forced taxpayers to bear the brunt of high costs, and inhibited competition,” Warren said she’s offering O’Day “an opportunity to offer context on pharmaceutical competition and the burden of high drug prices on patients and the American public.”
She also singled out some of the high launch prices that Gilead charged for certain drugs, like its Covid-19 drug remdesivir, which brought in $2.8 billion in sales in 2020, as well as the $84,000 price tag for a 12-week course of the hep C drug Sovaldi, and $16,600-a-year for Descovy, a follow-on product similar to its HIV prophylaxis drug Truvada, which has since gone generic.
O’Day, who took home a total pay package of just under $19 million in 2020, down from $29.1 million a year earlier, previously testified before a House committee in 2019 on the company’s HIV drug franchise. A little more than a year ago, Gilead also sued the CDC, accusing the agency of breaking longstanding agreements by “secretly” obtaining patents on Truvada and failing to notify the company for nearly a decade.
But in the case of remdesivir, the GAO said in April that the US federal government’s contributions to the research on it did not result in any patent rights.
Gilead did not immediately respond to a request for comment on whether O’Day would accept the invitation.
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