Thread by @markaprovost, Pharma giant Gilead just announced they will charge nearly $2,500 for a [...]

DefenestrateThePolice

markaprovost

Pharma giant Gilead just announced they will charge nearly $2,500 for a COVID-19 treatment called Remdesivir. The thing is US taxpayers invested at least $70 million developing remdesivir while the cost of making the drug is $10 bucks

This isn't healthcare. This is extortion.

sources: "...a 10-day course of remdesivir should cost about $10, according to the ICER report." -NPR https://www.npr.org/sections/health-shots/2020/05/08/851632704/putting-a-price-on-covid-19-treatment-remdesivir

Putting A Price On COVID-19 Treatment Remdesivir

Gilead Sciences has committed to donating the initial supply of the experimental antiviral drug. But executives said the company will need to make expanded production of the treatment sustainable.

https://www.npr.org/sections/health-shots/2020/05/08/851632704/putting-a-price-on-covid-19-treatment-remdesivir

Public Citizen estimates *no less than $70 million in taxpayer money* invested to get remdesivir to market. Washington Post: https://www.washingtonpost.com/business/2020/05/26/remdesivir-coronavirus-taxpayers/

Taxpayers paid to develop remdesivir but will have no say when Gilead sets the price

Critics say the government deserves more credit for tens of millions in public money spent to develop the coronavirus treatment.

https://www.washingtonpost.com/business/2020/05/26/remdesivir-coronavirus-taxpayers/

another juicy tidbit: US taxpayers provided the bulk of funding for Gilead's top 3 selling drugs, but Gilead doesn't pay taxes: "Gilead Sciences reaped a $1.2 billion deferred tax benefit by realigning the company's intellectual-property holdings last year" WSJ, April 2020

however mad you got when you read the first tweet about Gilead, if you know the full story of Gilead's robbery it would send you into inescapable rage https://www.wsj.com/articles/companies-save-billions-in-taxes-by-shifting-assets-around-globe-11586347201

Companies Save Billions in Taxes by Shifting Assets Around Globe

Multinational corporations are devising new strategies to keep their taxes low, saving billions of dollars by navigating around attempts by the U.S. and European countries to tighten the tax net.

https://www.wsj.com/articles/companies-save-billions-in-taxes-by-shifting-assets-around-globe-11586347201

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