U.S. lawmakers ask Gilead to justify hepatitis C drug's $84,000 price [View all]

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http://www.latimes.com/business/money/la-fi-mo-hepatitis-c-gilead-pricing-20140321,0,3617096.story

U.S. lawmakers ask Gilead to justify hepatitis C drug's $84,000 price
By Chad Terhune
March 21, 2014, 12:04 p.m.

U.S. lawmakers have asked Gilead Sciences Inc. to justify the price of its new $84,000 drug for hepatitis C patients amid growing concern about the high cost to taxpayers and consumers.

In a letter to the Foster City, Calif., company Thursday, Rep. Henry A. Waxman (D-Beverly Hills) and two other Democratic lawmakers asked Gilead Chief Executive John C. Martin to explain the rationale for selling Sovaldi for $1,000 per pill.

Previous therapies for hepatitis C helped only about half of patients and had numerous side effects. In comparison, clinical trials of Sovaldi have shown cure rates approaching 90% with far fewer complications.

The lawmakers noted those potential benefits for patients, but they said the expensive medication could impose substantial costs on taxpayer-funded Medicaid programs and lead to premium increases for those with employer or individual health coverage.