Gilead Subsidiary to Launch Authorized Generics of Epclusa® (Sofosbuvir/Velpatasvir) & Harvoni® (Ledipasvir/Sofosbuvir) for...
September 24 2018 - 8:30AM
Business Wire
-- List Price of Authorized Generics to
Reflect Discounts in the System Today --
Gilead Sciences, Inc. (NASDAQ: GILD) announced today plans to
launch authorized generic versions of Epclusa® (sofosbuvir
400mg/velpatasvir 100mg) and Harvoni® (ledipasvir 90mg/sofosbuvir
400mg), Gilead’s leading treatments for chronic hepatitis C virus
(HCV), in the United States, through a newly created subsidiary,
Asegua Therapeutics LLC. The authorized generics will launch at a
list price of $24,000 for the most common course of therapy and
will be available in January 2019.
Since the launch of Gilead’s first HCV medication in 2013, the
average price paid for each bottle of medicine in the United States
has decreased by more than 60 percent off of the public list
prices, across health insurers and government payers. Due to the
complexity and structure of the U.S. healthcare system, however,
these discounts provided by Gilead may not always translate into
lower costs for patients. Further, existing contracts, together
with laws associated with government pricing policies, make it
challenging to quickly lower a product’s list price once it is on
the market.
The authorized generics are priced to more closely reflect the
discounts that health insurers and government payers receive today.
Insurers will have the choice of offering either the authorized
generics or the branded medications for both Epclusa and Harvoni.
In the Medicare Part D setting, the authorized generics could save
patients up to $2,500 in out-of-pocket costs per course of therapy.
The authorized generics will also offer substantial savings to
state managed Medicaid plans that do not currently benefit from
negotiated rebates and that represent a significant number of
people in need, potentially opening up access to our medications to
beneficiaries who were previously denied coverage.
“Launching these authorized generics is the best solution
available to us today to quickly introduce a lower-priced
alternative to our HCV medications without significant disruption
to the healthcare system and our business,” said John F. Milligan,
PhD, President and Chief Executive Officer, Gilead Sciences. “This
launch also will hopefully help increase transparency by more
closely aligning our medications’ list prices with their cost. Our
ultimate goal is to lower the list price of Epclusa – a medication
we believe is of great importance given its clinical profile across
genotypes – and Harvoni. We are committed to working with all of
our partners in the healthcare system to help enable list price
reductions of our HCV medications and find better solutions to
reduce patients’ out-of-pocket costs.”
Beyond the company’s efforts to reduce patient costs, Gilead is
continuing to pursue innovative collaborations and long-term
financing models, such as a potential subscription model, that
could not only expand access, but aim to eliminate HCV in the
United States and around the world.
About Gilead Sciences,
Inc.
Gilead Sciences, Inc. is a research-based biopharmaceutical
company that discovers, develops and commercializes innovative
medicines in areas of unmet medical need. The company strives to
transform and simplify care for people with life-threatening
illnesses around the world. Gilead has operations in more than 35
countries worldwide, with headquarters in Foster City,
California.
Forward-Looking
Statement
This press release includes forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks, uncertainties and other factors that
could cause actual results to differ materially from those referred
to in the forward-looking statements. The reader is cautioned not
to rely on these forward-looking statements. These and other risks
are described in detail in Gilead’s Quarterly Report on Form 10-Q
for the quarter ended June 30, 2018, as filed with the U.S.
Securities and Exchange Commission. All forward-looking statements
are based on information currently available to Gilead, and Gilead
assumes no obligation to update any such forward-looking
statements.
For more information on Gilead Sciences, please
visit the company’s website at www.gilead.com, follow Gilead on
Twitter (@GileadSciences) or call Gilead Public Affairs at
1-800-GILEAD-5 or 1-650-574-3000.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180924005499/en/
Gilead Sciences, Inc.InvestorsSung Lee, 650-524-7792orMediaAmy
Flood, 650-522-5643
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Aug 2024 to Sep 2024
Gilead Sciences (NASDAQ:GILD)
Historical Stock Chart
From Sep 2023 to Sep 2024