Newly recommended drug for the treatment of COVID-19, Remdesivir has been been priced by its manufacturer, Gilead Sciences Inc at $390 or N150,789.50 per vial for patients in the United States as well as other developed countries.
The drug which is expected to be administered over a five day period is estimated to cost a total of $2,340 or N904,737.60 per patient.
The price of the COVID-19 drug set by its manufacturer on Monday however differs for US Private insurance companies which are expected to purchase the drug at $520 or N201,052.80 per vial and $3,120 or N1,206,316.80 per patient.
According to Gilead, the US Department of Health and Human Services (HHS) will manage allocation of Remdesivir to hospitals across the country until the end of September. This is expected to come to an end once supplies are constrained.
Although experts have argued that Gilead should not take advantage of a health crisis for profit on Remdesivir since it’s approval by the US Food and Drug Administration (FDA), this new price regime could limit its accessibility by developing economies across Africa and Latin America.
Analysts on wall Street have predicted that Remdesivir could generate billions of dollars in revenue if the COVID-19 pandemic persists.