Gilead Sciences Inc.GILD -1.19 % confronted congressional investigations after pricing its hepatitis C therapy Sovaldi at $1,000 a day, while more recent targets have included Valeant Pharmaceuticals International Inc.VRX -2.12 % and Retrophin Inc.RTRX -3.30 % for triple-digit price increases on drugs they had just bought.
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In 2007, when Mylan Pharmaceuticals took over producing the drug from Merck, the cash price of the pens was about $50, according to a study published in the Annals of Allergy, Asthma and Immunology.
“Mylan, which has a near monopoly in the USA, has seen its profits from the EpiPen alone skyrocket to $1.2 billion a year”, it says. “Schools are feeling the budgetary effects of needing EpiPens on hand in order to be prepared for emergency situations”.
The price of a lifesaving EpiPen has skyrocketed, and that’s putting people with severe allergic reactions at risk.
Blumenthal indicated that the fact the CEO of the company behind the skyrocketing price of EpiPens is the daughter of fellow Democrat Joe Manchin III of West Virginia should not affect related inquiries.
“That’s outrageous – and it’s just the latest troubling example of a company taking advantage of its consumers …”
The company has come under fire in recent days over the cost of the popular EpiPen, the most common epinephrine injector on the market.
Mylan, now in the crosshairs over severe price hikes for its EpiPen, says it will expand programs that lower out-of-pocket costs by as much as half. “All involved must also take steps to help meaningfully address the USA healthcare crisis, and we are committed to do our part to drive change in collaboration with policymakers, payors, patients and healthcare professionals”.
Democratic U.S. Senator Amy Klobuchar said Mylan’s action was a “welcome relief” to many who are struggling to afford the medication, but said it does not address the root of the problem of rising drug costs.
Clinton’s comments came after a bipartisan group of lawmakers called for investigations into the price increase of EpiPens, which are preloaded injections of epinephrine (adrenaline) that people use if they are having a risky allergic reaction that could result in death, if untreated.
Nani Hilbert, who has a son who is anaphlactic said, “It’s a children’s lives, So they are saying absolutely that your children’s life is not worth a discount”.
The statement directly attributed the public relations uproar to “current changes in the healthcare insurance landscape” including “an increasing number of people and families (who have) enrolled in high deductible health plans”.
Mylan spokeswoman Nina Devlin said in an email, “We have reached out to every member of Congress who has sent us a letter, and we look forward to meeting with them and responding to their questions as soon as possible”.
Clinton has released a detailed plan for dealing with exorbitant drug price hikes. Her daughter’s school requires one pack, while Ms. Donnelly said she follows recommendations and puts a second in her daughter’s backpack and keeps another at home.
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The prices insurers and employers negotiate with Mylan are up about 150% since 2009, according to Rx Savings Solutions, and 15% since May. “Thankfully we’re not seeing the same issues here as we are in the U.S.”, Povolo said in an interview.
