Massachusetts Attorney General To Gilead Sciences: Cost Of Harvoni & Sovaldi Drugs 'May Constitute An Unfair Trade Practice In Violation Of Massachusetts Law'

According to The Boston Globe, Massachusetts Attorney General Maura Healey wrote a letter to Gilead Sciences, Inc. (NASDAQ: GILD) which suggested her office could initiate legal action.

The Boston Globe noted that Healey's letter was dated January 22 and delivered to Gilead's CEO John Martin.

Shares of Gilead Sciences were trading lower by more than 1 percent mid-Wednesday afternoon.

The letter stated that Gilead Sciences' Sovaldi drug, which costs $84,000 for a full course of treatment, "may constitute an unfair trade practice in violation of Massachusetts law."

Gilead Sciences' Harvoni drug regimen was also mentioned given its $94,500 cost per treatment.

The Boston Globe also noted that Gilead's management has requested a meeting with the Attorney General's office to discuss the issue.

"We agree with the attorney general about the importance of helping all [hepatitis C] patients – and that the advent of safe, effective regimens means we can now consider the possibility of eradicating the disease," Amy Flood, a Gilead spokeswomen told The Boston Global in a statement. "We look forward to working with the attorney general's office to address questions and concerns and ensure a mutual understanding of the work we are doing to deliver a cure for [hepatitis C] to as many patients as possible in Massachusetts and around the world."