AHF Protests Gilead over Drug Pricing @ Morgan Stanley Conference

In less than two years, Gilead has more than doubled the cost of its HIV medication, Descovy, for the lifesaving 340B program from $445.11 in Q3, 2020 to $987.55 in Q2, 2022

AHF will host a protest Tuesday, Sept. 13^th targeting Gilead Sciences—"Greediad”—and its investors over its AIDS drug pricing during the annual Morgan Stanley Global Healthcare Conference in New York

On Tuesday morning, September 13^th, two dozen advocates from AIDS Healthcare Foundation (AHF), the largest global AIDS organization, and its affiliates, Iris House and ACQC (AIDS Center of Queens County) will spearhead a protest targeting Gilead Sciences (GILD) during the annual Morgan Stanley Global Healthcare Investor Conference being held at Morgan Stanley headquarters on Broadway in New York City.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220912005989/en/

AHF has been targeting Gilead Sciences, Inc. as "Greediad" over the drug company's AIDS drug pricing and policies as well as illegal restrictions Gilead is placing on access to its lifesaving drugs through the 340B program.

Gilead officials will be presenting at the conference and the advocates will protest Gilead as “Greediad” over the drug company’s latest, and illegal move to undermine safety net providers’ access to 340B program benefits. 340B is a drug-company-funded, government administered program that costs taxpayers nothing, and, according to HRSA, “… enables covered entities to stretch scarce federal resources as far as possible, reaching more eligible patients and providing more comprehensive services.”

In March of this year, Gilead became the 15th drug manufacturer to place unlawful restrictions on 340B contract pharmacy programs. Lawyers for the Health and Human Services Department (HHS) in both the Biden and Trump administrations have said these restrictions are clearly illegal, yet drug companies like Gilead forge ahead with the lawbreaking in search of even greater profits.

Since the third quarter of 2020—less than two years—Gilead has also more than doubled the cost of its HIV/AIDS medication, Descovy, for the 340B program from $445.11 in 2020 to $987.55 in the second quarter of 2022.

In response to Gilead’s (and others’) illegal restrictions on 340B access and its bald-faced greed for higher profits, AHF also asked Congress and the FDA to conduct a formal investigation of Gilead as well as increase scrutiny of the actions of pharmaceutical companies.

AIDS Healthcare Foundation (AHF), the largest global AIDS organization, currently provides medical care and/or services to over 1.6 million individuals in 45 countries worldwide in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region and Eastern Europe. To learn more about AHF, please visit our website: www.aidshealth.org, find us on Facebook: www.facebook.com/aidshealth, follow us @aidshealthcare or subscribe to our AHF podcast “AHFter Hours.”

View source version on businesswire.com: https://www.businesswire.com/news/home/20220912005989/en/

In less than two years, Gilead has more than doubled the cost of its HIV/AIDS medication, Descovy, for the 340B program from $445.11 in the third quarter of 2020 to $987.55 in the second quarter of 2022.