Gilead is likely to receive billions in profit for its potential COVID-19 treatment drug remdesivir, according to Wall Street analyst Geoffrey Porges.
Mr. Porges estimates the drug's list price will be $5,000 per course in the U.S. He also speculates that Gilead will reap in $1.9 billion in remdesivir sales by the end of 2020 and $6.7 billion in 2021. Gilead has not yet announced what it will charge for a course of remdesivir, but Mr. Porges' prediction is on the higher end of expert estimates.
"This forecast has more uncertainty than any that we have published in the last 15 years, but it reflects our view that remdesivir works, it saves medical and societal costs by shortening disease duration and reducing severity, and we believe that Gilead will be permitted to capture reduced but still real profitability from the product," Mr. Porges wrote in his analysis.
Mr. Porges also predicted that the eventual development of an effective COVID-19 vaccine would not halt the government's efforts to stockpile remdesivir.
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