Boston, MA 10/13/2014 (wallstreetpr) – Gilead Sciences, Inc. (NASDAQ:GILD) is expected to reflect the positivity of the last week in its share prices today as well. The pharma company achieved a major milestone two days back when it recieved the U.S. Food and Drug Administration (FDA)’s nod for its hepatitis C drug. The regulatory approval will now allow the company to market Harvoni at $94,500, as fixed earlier.
New Improved Course
The decision for Harvoni comes in line with the expectations. Also, the new pill is an improved version, which eliminated the need to take two older treatments along with Gilead Sciences, Inc. (NASDAQ:GILD)’s Sovaldi. The former therapy reportedly had multiple side effects. The new pill combines the company’s $84,000 pill Solvaldi with Ledipasvir and is a 12-week long course.
In past Gilead Sciences, Inc. (NASDAQ:GILD) has been subjected to criticism from health insurers, who said that the treatment is exuberantly priced. The company argues that the new drug price at $94,500 is lower than its older treatment costing $94,726. However, the health insurers still considers the price as unaffordable. Express Scripts Holding Co. representative David Whitrap said that they believe Gilead Sciences, Inc. (NASDAQ:GILD) hepatitis treatment as inappropriately priced and excessively high. Hepatitis C is a disease that has gripped a large group of patients and is estimated to affect nearly 3.2 million population in America.
On the other hand, the Wall Street analysts have come out with a price comparison between Gilead Sciences, Inc. (NASDAQ:GILD)’s drug and others. They conclude that the price of the pill is lower than what others are charging. For instance, Johnson & Johnson (NYSE:NJ) has put up its hepatitis treatment for a whopping $130,000 on shelves. Moreover, Gilead claims that half of the normal Hepatitis cases could be cured within eight weeks, costing just $63,000. More or less, the analysts find the pricing competitive.