“First, many consumers will not use the coupons or the programs”.
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“Nothing else in my life has increased that much in price, why the EpiPen?” said Connell.
Got a question about the news? She just paid more than $500 on top of back to school costs for her daughter’s life-saving treatment.
EpiPens provide life-saving epinephrine that helps relax the airway muscles of individuals with severe allergic reactions.
Did Mylan come up with the idea for the pen?
Nine years ago, the EpiPen was priced at $100.
Millions of Americans rely on EpiPens every year. Likewise, the profit from the device has been substantial for Mylan.
It is noteworthy that Mylan has been helping patients with commercial insurance pay as low as $0 for EpiPen via the savings card.
Why did the cost go up?
Also feeding the controversy Heather Bresch’s salary which has increased from more than $2 million a year to almost $19 million since Mylan acquired the Epipen in 2007.
In the interest of price transparency, the company says they are also providing the entire economic story of the EpiPen supply chain on their website. She announced her decision in an Instagram post Thursday morning.
Earlier in the day, Bresch discussed the repeated big price hikes, telling CNBC that intermediaries including wholesalers, retailers and pharmacy benefit managers add to the ultimate cost. On eight occasions during the next four years, the cost of EpiPen was increased by 10 percent each time. “News reports indicate that generic versions of the EpiPen have been subject to additional questioning by the FDA and have yet to be approved”, the senators wrote.
What does it cost now? “And there is no competitor for EpiPen on the market right now, and it’s off-patent”, explained Peter Pitts, a former official at the US Food and Drug Administration (FDA).
Mr. Blumenthal has called for congressional investigations and asked the Federal Trade Commission to look into whether the company has engaged in unfair trade practices.
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Of roughly $250 million raised for and against 17 ballot measures coming before California voters in November, more than a quarter of that amount – about $70 million – has been contributed by deep-pocketed drug companies to defeat the state’s Drug Price Relief Act. But, thankfully for consumers who desperately depend on the device, according to Mylan’s statement, the company is offering $300 discount cards, expanding eligibility of its discount program, offering direct sales to patients as well as providing schools with free product.
