Did Gilead (GILD) and Waxman Plan Meeting Ahead of Letter?

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Go back to Did Gilead (GILD) and Waxman Plan Meeting Ahead of Letter?

Gilead Sciences (GILD): Analyst Comments on Letter from Democratic Leaders

March 21, 2014 11:18 AM EDT

Gilead Sciences (NASDAQ: GILD) declined on Friday after Democratic leaders request a briefing by Gilead on Hepatitis C drug pricing Link Here. Analyst Robyn Karnauskas of Deutsche Bank spoke to management about the letter, which... More

Democratic Leaders Request Briefing by Gilead (GILD) on Hepatitis C Drug Pricing

March 21, 2014 10:15 AM EDT

Below is a letter from Democratic leaders requesting a briefing by Gilead (Nasdaq: GILD) on Hepatitis C drug pricing.

Today Ranking Member Henry A. Waxman, Health Subcommittee Ranking Member Frank Pallone, Jr., and Oversight and Investigations Subcommittee Ranking Member Diana DeGette sent a letter to Gilead Sciences Inc. Chief Executive Officer John C. Martin to request a briefing on pricing of the companys recently approved Hepatitis C drug, Sovaldi. Reports indicate that Gilead intends to sell Sovaldi at $84,000 per treatment, which will affect coverage for patients with public or private insurance.

FDA approved Sovaldi in December 2013 after the drug received an FDA Priority Review and Breakthrough Therapy designation, which is intended to expedite review of drugs for serious or life-threatening conditions.

The full text of the letter is available below and online here.

March 20, 2014

Dr. John C. Martin, PhD
Chief Executive Officer
Gilead Sciences Inc.
333 Lakeside Drive
Foster City, CA 94404

Dear Dr. Martin:

We are writing to request a briefing from Gilead Sciences Inc. to answer important questions about the pricing of the company's recently approved Hepatitis C drug,... More