Washington, D.C. – The American Economic Liberties Project released the following statement in response to a letter sent today by a bipartisan group of 34 state attorneys general, urging the federal government to invoke march-in rights with respect to remdesivir, a promising COVID-19 treatment.

“Gilead is abusing its monopoly control of remdesivir and flagrantly profiteering off a pandemic,” said Olivia Webb, a policy analyst at the American Economic Liberties Project. “Although Gilead used an estimated $34.5 million in taxpayer funding to develop remdesivir, the company is now charging more than $3,100 for a single course of treatment. The state AGs’ call to invoke march-in rights to lower the cost and increase the supply of this critical treatment is a powerful demonstration of the government’s ability to stop corporate abuse. While this is far from the only action that should be taken to address the public health crisis of COVID-19, the call from the state attorneys general should not be ignored.”

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Economic Liberties works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. AELP believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.