Blumenthal is set to highlight his push for lower prices for the devices during an event Wednesday afternoon at the Connecticut Children’s Medical Center in Hartford with parents of children who need the EpiPens, as well as medical providers. Citing news reports, she said that despite stable manufacturing costs, Mylan has increased the price of a pack of two EpiPens from $100 in 2008 to the present level of $500, with some customers reportedly paying $600 or more.
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“Millions of Americans with severe allergies rely on their EpiPens”. They at risk for a serious reaction – anaphylactic shock. Symptoms vary – from wheezing, hives and skin swelling to rapid heartbeat, trouble breathing and even death. These rising prices have been a burden on consumers who, depending on insurance, sometimes pay full price or otherwise have very high co-pays for the widely used treatment.
Q: How do EpiPens work? He also stated that since the pens expire after about a year, the cost is recurring.
EpiPens account for 40% of the Mylan’s operating profits.
Like all drugmakers, Mylan periodically hikes its prices.
Clinton echoed calls for Mylan to reduce the “outrageous” price hike. Prices continued to rise, and ballooned to $609 in May.
Q: How can Mylan do that? Mylan also takes a lot of pride in the fact that they have “increased anaphylaxis awareness”, as in, “I have increased my awareness that anaphylaxis could kill my kid because I can no longer afford their medication”. Mylan hasn’t answered questions about how it justifies its price hikes.
“The bottom-line problem is that the price isn’t being addressed”, says Welch, also a professor at University of California, San Diego School of Medicine.
“There does not appear to be any justification for the continual price increases of EpiPen”, Klobuchar said in her letter to the FTC. After insurance and a coupon, her pharmacist said it would still cost more than $300.
The statement recommended that people review their coverage.
“It’s an essential drug”, says Parkway School District Health Director Robin Wallin.
Q: Isn’t there any competition?
“The cost of an EpiPen prescription has implications for the federal taxpayers as well”.
Q: Is there another alternative?
Some doctors have raised concerns over the practice’s sterility and effectiveness.
Q: Why is there such a furor now?
One was Valeant, whose stock price was pummeled for months after the New York Times reported that Valeant and other firms were using a network of specialty pharmacies to sustain sales of high-priced drugs and prevent patients and insurers from switching to less-expensive generic competitors. She said the plan would require drug companies “to explain significant price increases, and prove that any additional costs are linked to additional patient benefits and better value”.
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According to the Senator, the price increase isn’t only hurting consumers who need the drug but it also is affecting school budgets, as many schools keep the drug on hand for emergencies.
