Drugmaker backpedals on specialty status for COVID-19 drug

Drugmaker backpedals on specialty status for COVID-19 drug

4 years ago
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https://apnews.com/137dea69599d9cf1106ff0a5ed3cee8c

WASHINGTON (AP) — Facing public criticism, the maker of a promising coronavirus drug said Wednesday it will waive a special regulatory designation that could have allowed it to block competition and boost profits for its treatment.

Gilead Sciences said it will ask U.S. regulators to revoke the so-called “orphan drug” status it received for its experimental drug remdesivir. The status would have entitled the company to financial incentives and exclusive marketing intended for rare disease treatments.

Drugmaker backpedals on specialty status for COVID-19 drug

Mar 25, 2020, 8:43pm UTC
https://apnews.com/137dea69599d9cf1106ff0a5ed3cee8c > WASHINGTON (AP) — Facing public criticism, the maker of a promising coronavirus drug said Wednesday it will waive a special regulatory designation that could have allowed it to block competition and boost profits for its treatment. > Gilead Sciences said it will ask U.S. regulators to revoke the so-called “orphan drug” status it received for its experimental drug remdesivir. The status would have entitled the company to financial incentives and exclusive marketing intended for rare disease treatments.