Gilead announces remdesivir pricing; U.K. eyes big investments to rebuild economy


New cases of the coronavirus continued to surge over the weekend across several U.S. states, mostly in the American South and West. Amid the rise in new cases, Health and Human Services Secretary Alex Azar warned Sunday that the “window is closing” to curb the spread of the virus and get the outbreak under control.

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 10.15 million
  • Global deaths: At least 502,048
  • U.S. cases: More than 2.54 million
  • U.S. deaths: At least 125,803

The data above was compiled by Johns Hopkins University.

Gilead to price remdesivir at $3,120 for U.S. patients with private insurance

Vials of investigational coronavirus disease (COVID-19) treatment drug remdesivir are capped at a Gilead Sciences facility in La Verne, California, U.S. March 18, 2020. Picture taken March 18, 2020.

Gilead Sciences Inc | Reuters

7:40 a.m. ET — Gilead Sciences announced pricing for its coronavirus treatment, remdesivir. It will sell the drug at $390 per vial to governments of developed countries and at $520 per vial for U.S. private insurance companies, adding that the pricing is “well below” the drug’s value.

The company will begin charging for the drug in July. It had previously been donating doses to the U.S. government for distribution since it received an emergency use authorization in May to treat Covid-19 patients. 

The majority of patients treated with remdesivir will receive a five-day treatment course using six vials of remdesivir, the company said. That would bring the government cost to $2,340 for patients on the five-day treatment and $3,120 for commercially insured patients.

“At the level we have priced remdesivir and with government programs in place, along with additional Gilead assistance as needed, we believe all patients will have access,” Gilead CEO Daniel O’Day said in an open letter. —Will Feuer

U.K.’s Boris Johnson says a ‘Rooseveltian’ approach is needed to restart economy

Britain’s Prime Minister Boris Johnson speaks during a daily briefing to update on the coronavirus disease (COVID-19) outbreak, at 10 Downing Street in London, Britain June 3, 2020.

Andrew Parsons | 10 Downing St | via Reuters

7:30 a.m. ET — British Prime Minister Boris Johnson said Monday that the U.K. needs to take a “Rooseveltian” approach to rebuilding its economy following the coronavirus epidemic.

Speaking to Times Radio, Johnson admitted that the virus had been an “absolute nightmare for the country” but added that “in those moments you have the opportunity to change and to do things better … to invest in infrastructure, transport, broadband, you name it.”

“I think this is the moment for a Rooseveltian approach to the U.K.,” he added, referencing former U.S. President Franklin D. Roosevelt who was elected to the U.S. presidency during the height of the Great Depression. He is renowned for implementing the “New Deal” programs that funded the mass building of U.S. public infrastructure in the 1930s. —Holly Ellyatt


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