Friday, May 31, 2019 - Congress in the U.S. is seeking to place a cap on drug prices as well as the profits a drug company can earn. Gilead Sciences chairman recently testified before a congressional oversight committee that higher drug prices, particularly those for the company's Truvada drug, were needed in order to incentivize scientists to take the risks required to come up with a cure or vaccine for AIDS. O'day said that drug companies assume great financial risks and take chances in order to achieve the results they desire. Democrats such as Elijah Cummings do not feel the same way and cite the annual year in and year out price increases for drugs as being exorbitant and unnecessary other than to satisfy the company's greedy capitalist desires. Bloomberg.com seems to agree with Congress and cites the enormous profits that Truvada has earned for Gilead. "Gilead has more cash than it knows what to do with. It has sent $40 billion back to shareholders in the form of dividends and buybacks over the past five years and has more than $30 billion just sitting around. Its annual adjusted R&D budget is less than $4 billion." In spite of all of that, the stock price of Gilead Science now stands at around 50% of the 2015 high of $120 per share. Truvada lawyers for kidney failure and bone loss, have a long track record of success in winning cases against multinational pharmaceutical conglomerates and achieving justice on behalf of American families harmed by negligence and corporate greed.
Bloomberg brings to light the fact, as Congresswoman Alexandria Ortiz accurately cited, that it was government-funded scientists that laid the groundwork that helped Gilead develop Truvada. Ortiz argued that since the government played a vital role in the drug's development that the government had a right to control the drug's patent and thus its price. Others in Congress, however, acknowledge the important role that the profit motive plays drug development but question when enough is enough and when does raising prices make drugs unavailable to those at the lower economic levels. Bloomberg cites that over the last decade prices for Truvada have more than tripled.
Science Daily.com call Truvada (tenofovir disoproxil) an antiviral drug that can prevent the transmission of HIV. "In a study into the prevention of HIV transmission, people who took the antiretroviral drug Truvada were 86% less likely to contract the disease than those who took a placebo, report the researchers who led the study. "The medication was taken as needed around periods of sexual activity. " Other, however, question the effectiveness of the drug and also point to studies that link Truvada with catastrophic bone loss called osteoporosis in patients taking it. Truvada is warned to cause renal complications and kidney failure. The U.S. Food and Drug Administration (FDA) issued a warning to Gilead Sciences, maker of Truvada, against overstating the safety of Truvada. If you or a loved one suffer from HIV patients and have taken Truvada and now suffer from the loss of bone density, you may wish to consult with a Truvada attorney to see if you qualify to file a claim for reimbursement of medical expenses, lost wages, and pain and suffering. Lawsuits claim that Gilead is negligent for failing to warn of the drug's potential osteoporosis side effects and plaintiffs claim that had they known they may have opted to take a safer anti-HIV drug.
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.