Democratic U.S. Sen. Richard Blumenthal has correctly called for investigations into the recent sudden price hikes of EpiPens.
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“People just don’t want to go through the hassle”, said Gerard Anderson, a professor at health policy and management at the Johns Hopkins Bloomberg School of Public Health. Everybody suffers, except the Mylan investors..
“Until there’s competition, you have to pound them to bring the price of that drug down”. What makes the price tag harder to swallow is the fact the drug isn’t a one time purchase.
He has applauded Mylans actions.
Mylan, maker of the EpiPen, has come under intensifying scrutiny from Congress as its list price has jumped from $100 in 2007 to $600 now, according to The New York Times.
If you’re frustrated with the high price of EpiPen, Consumer Reports says that generic Adrenaclick may be an option to discuss with your doctor. This could be done, for example, during a severe allergic reaction called anaphylaxis. “There’s nothing else that’s as well-studied so at this point that’s the one we go to, because we’re familiar with it”, said Dr. Reena Mehta, allergy and asthma specialist. The system is broken for consumers, but not for Bresch or her company, which a year ago moved its corporate address overseas to the Netherlands to lower its US taxes. It’s not a lot of fun to be the 9-year-old at a birthday party telling your best friend’s mother that yes, the Heath Bars she’s sprinkled all over that birthday cake are full of almonds, and no, you won’t be having a piece. The rest is divided between insurers’ prescription benefits, managers, and pharmacies, but Kenton said the move is putting lives at risk. This isnt a Mylan issue.
This look at a children’s health or safety issue comes from Dayton Children’s Hospital.
Mylan’s CEO, Heather Bresch, who prior to Thursday said the increase in the price of the device was part of the cost of doing business, told CNBC’s “Squawk Box” that she will make sure that, “everyone who needs an EpiPen will get one”.
Thats $105 USA $210 for two. And so if I stopped to think about the cost of these drugs in the middle of a mild attack, I can not imagine what it must be like to face the cost of multiple EpiPens a year, and to do so without insurance or without the financial backup of a two-income household. On August 19, Mylan stocks went from $49.20 per share to $43.11 on August 24, a net loss of almost $3 billion for the company.
The company said it’s also doubling eligibility for its patient assistance program, which it said will get rid of out-of-pocket costs for uninsured and underinsured patients and families. It said that means a family of four making up to $97,200 would pay nothing out of pocket for the treatment. The company is expanding access to the drug by offering a savings card that will cover up to $300 of its EpiPen two pack.
The only thing more outrageous than the huge price spike in EpiPens, devices used to stop potentially fatal allergic reactions to insect bites, bee stings and food allergies, is the back story about its manufacturer, Mylan, and the inaction on the part of Congress that has enabled drug companies and health care industry middlemen to continue gouging consumers.
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These measures could provide significant help for people with no coverage facing the full bill.
