The New York Times reports that Rep. Henry Waxman and three Democratic colleagues wrote a letter protesting the price of Gilead’s new hepatitis drug, Sovaldi. A twelve-week course of Sovaldi costs $84,000 — about $1,000 per pill.
It was signed by Henry A. Waxman of California, the ranking Democrat on the committee, and Frank Pallone Jr. of New Jersey and Diana DeGette of Colorado.
Gilead’s stock fell 4.6 percent, to $72.07 on Friday. Nervous investors took down the shares of some other big biotechnology companies as well, worried that pressure on drug prices would increase. Biogen Idec and Alexion Pharmaceuticals both fell 8 percent, Vertex Pharmaceuticals 5 percent and Celgene nearly 4 percent.