August 30, 2005
On Monday, Gilead Sciences Inc. announced it is reducing the prices it charges developing nations for its HIV drugs Truvada and Viread. Through its access program, Gilead sells the drugs at no profit to a group of 97 developing countries. The lower prices are possible, Gilead said, thanks to increased economies of scale, a new factory in the Bahamas and manufacturing improvements that have lowered costs. The move cuts the countries' costs for Viread by 31 percent to $17 per patient per month and for Truvada by 12 percent to $26.25 per patient per month. Viread's inventors have waived their royalty rights on sales to the participating countries; Viread is contained in the combination treatment Truvada.