CHGCY - Gilead's COVID-19 therapy beats AbbVie's Humira to lead U.S. hospital spending in 2021

Gilead’s (NASDAQ:GILD) COVID-19 therapy remdesivir has claimed the top spot, overtaking AbbVie’s (NYSE:ABBV) anti-inflammatory medication Humira in a list of drugs compiled by the purchasing group Vizient Inc, based on the spending of its member hospitals. From October 2020 to September 2021, remdesivir made up about 3.4% or $1B of total member spending among all therapeutics analyzed by the firm, used by nearly half of the U.S. hospitals. “Before COVID, we anticipated adalimumab would remain the top drug by total spend until biosimilars are introduced to bring in competition in 2023,” remarked Dan Kistner, Vizient group’s senior vice president for pharmacy, referring to the generic name of Humira. “That remdesivir replaced it as the No. 1 drug in total member spend across all classes of trade reflects how COVID has impacted hospitals and the unanticipated costs to their budgets.” Meanwhile, Tocilizumab, another FDA-authorized COVID-19 therapy marketed by Roche (OTCQX:RHHBY)/ Chugai (OTCPK:CHGCF) (OTCPK:CHGCY),

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Gilead’s COVID-19 therapy beats AbbVie’s Humira to lead U.S. hospital spending in 2021