While Q4 2023 earnings fell short of Wall Street expectations, Gilead’s patent manipulation and excessive price hikes continue to fuel company’s overall bottom line
LOS ANGELES (February 6, 2024) AIDS Healthcare Foundation (AHF) continued its assault on Gilead Sciences in its ongoing advocacy campaign against the Bay Area drug maker over its voracious greed, patent manipulation, and obscene price hikes. The company released its Q4 2023 earnings today and according to Investor’s Business Daily, results were mixed, with sales flat save for Veklury, its treatment for hospitalized COVID 19 patients.
“Gilead continues to place profit above all else at the expense of patients’ access to its lifesaving drugs, including its latest and safest drug formulations,” says Michael Weinstein, AHF president and cofounder. “From suppressing a safer formulation of one of its key HIV drugs to price gouging on its Hepatitis C medications, Gilead remains a company in search of a moral compass. AHF renews its call to responsible investors to divest their portfolios of Gilead stock.”
Some examples of the company’s greed include Gilead keeping a more effective HIV-medicine with fewer risky side effects off the market for years to maximize profits of its older version as well as
raising the price of its hepatitis C wonder drug, Sovaldi, from an already absurd $1,000 per pill to $1,200 and doubling the price it charges safety net providers for the HIV prevention drug Descovy in just two years.
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