Wednesday, November 20, 2019 - Gilead Sciences CEO Daniel O'Day was recently called before Congress in a session featuring the late Elijah Cummings and sparkplug first-term Congresswoman Alexandria Ocasio-Cortez to put forth the rationale his company relied upon in pricing an annual dose of Truvada at a whopping $21,000 per year. The exorbitant price for a pill that costs less than $100 per year to manufacture and distribute, has kept millions of couples with one HIV positive partner from being able to benefit from the treatment that is 99% effective in blocking the transmission of HIV from one individual to another. As a result of the pricing, young, poor, teenage homosexual black and Latino men and women have accounted for the highest HIV transmission rates in the nation. Truvada bone and kidney lawsuit attorneys believe persons and family members of persons who developed acute or chronic kidney problems and suffered from broken or brittle bones while taking Truvada may be eligible for real compensation and offer a no obligation free consultation before filing a claim.
As thousands have suffered and died needlessly to finance O'Day's corporate greed, some are doing everything possible to force either Gilead to reduce the price of the drug or force Gilead to relinquish ownership for the Truvada patent. Along the lines of the former, a New York City politician has taken action to recoup the back pay of members of the Gilead Sciences Board of Directors including the company's CEO. NBC News reports: "New York City Comptroller Scott Stringer on Wednesday submitted a letter to HIV drugmaker Gilead Science's board of directors demanding a shareholder "clawback" policy. The shareholder proposal, if approved by the board, would empower the board to recoup some of the money paid to top Gilead executives, like CEO Daniel O'Day." NBC reports that the action taken by the comptroller was as a result of a class action lawsuits alleging that Gilead has been engaged in anti-competitive drug pricing and additionally keeping Descovy, a safer and more effective anti-HIV PReP drug off of the market to bleed every last dollar from the Truvada patent.
Descovy is poised to seamlessly replace Truvada in the US government 2.4 million bottles per year free Truvada giveaway program sometime in 2020. Had Descovy come to market concurrently with Truvada the market would have been compromised by additional cheap generic drugs putting downward pressure on the price of Truvada. The NYC Comptroller has a history of holding company executives responsible for their irresponsible business decisions. Stringer was successful in 11 of 18 such income garnishing attempts including docking Wells Fargo executive pay when the company was convicted of defrauding investors by opening accounts without the person's consent, according to NBC.
CEO O'Day has defended his actions and also the high price of Truvada by saying that very few drugs that are experimented with ever go to the market and earn a penny and the ones that do make money have to subsidize the research costs of those that do not make it. The government has countered that the US government is the rightful patent owner for Truvada and that the drug should be nationalized and given away to all that need it for free. The Department of Justice has recently filed a lawsuit against Gilead to reclaim Truvada's patent and do just that.
OnderLaw, LLC is a St. Louis personal injury law firm handling serious injury and death claims across the country. Its mission is the pursuit of justice, no matter how complex the case or strenuous the effort. The Onder Law Firm has represented clients throughout the United States in pharmaceutical and medical device litigation such as Pradaxa, Lexapro and Yasmin/Yaz, where the firm's attorneys held significant leadership roles in the litigation, as well as Actos, DePuy, Risperdal and others. The firm has represented thousands of persons in these and other products liability litigation, including DePuy hip replacement systems, which settled for $2.5 billion and Pradaxa internal bleeding, which settled for $650 million. The Onder Law Firm won over $300 million in four talcum powder ovarian cancer lawsuits in St. Louis to date and other law firms throughout the nation often seek its experience and expertise on complex litigation.