Gilead pulls back 'orphan drug' request for experimental COVID drug

Facing criticism from patient groups, Democratic presidential candidate Bernie Sanders and others, Gilead Sciences Inc. said it has asked federal regulators to rescind a designation that would have carried tax incentives, research subsidies and a virtual monopoly for its experimental COVID-19 drug. The Foster City-based company (NASDAQ: GILD), which over the years has been accused of exorbitant pricing of its life-changing HIV and hepatitis C drugs, asked the Food and Drug Administration to rescind…