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Backlash Over Gilead Sciences, Inc. (GILD)'s New HIV Drug Begins


8/31/2012 7:00:47 AM

Let the battle begin. As soon as Gilead Sciences announced that the price for its newly approved Stribild HIV medication – a once-daily combination pill – would be $28,500 annually, some AIDS activists threatened to take action to find a way to lower the cost. Now, the AIDS Healthcare Foundation is angling to place a referendum in front of San Francisco voters to require city officials to hold talks with drugmakers about pricing for ‘essential medicines.’ “We have a financial crisis in our country. Even as we’re counting down to implement the Affordable Care Act, we see rationing for HIV patients over the last several years,” AHF president Michael Weinstein told a media teleconference call yesterday. “…The cost is totally unsustainable… And the net effect of this pricing is, basically, a future bankruptcy of the AIDS Drug Assistance Programs.”

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