Three years ago, Gilead Sciences was generating record sales and profits on the back of its hepatitis C pills. Now, Gilead's medicines are playing second fiddle to a competitor, and the drug that started it all, Sovaldi, has been relegated to a footnote.
The big picture: Gilead's drugs were a major reason why pharmaceutical spending shot up in 2014 and 2015, as patients flocked to the high-priced pills that cure the disease for a vast majority of people. Sales have gone down considerably, due to competing drugs and restrictive insurance coverage, even though a large number of hepatitis C patients remain untreated.
The health care services that rack up the highest out-of-pocket costs for patients aren't the same ones that cost the most to the health care system overall.
Why it matters: Americans likely have a distorted view of what is costing them the most, which affects where consumers direct their ire after receiving expensive medical bills.
