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Public transit agency seeks class action against Gilead

December 12, 2014 2:54 AM UTC

The Southeastern Pennsylvania Transportation Authority (SEPTA) in Philadelphia has filed a suit in the U.S. District Court for the Eastern District of Pennsylvania alleging that Gilead Sciences Inc. (NASDAQ:GILD) is charging "grossly excessive prices" for its HCV drug Sovaldi sofosbuvir, which it claims is preventing some patients from obtaining treatment. SEPTA is seeking class action status on behalf of anyone who has paid for the drug or been unable to obtain it.

At $84,000 for a 12-week course of treatment, SEPTA claims that Gilead is unfairly using a "monopoly" to price gouge, which it says is a violation of section two of the Sherman Antitrust Act. ...