The incredible increase in the cost of EpiPens, auto-injectors that can stop life-threatening emergencies caused by allergic reactions, has hit home on Capitol Hill, where one Democratic senator whose daughter has allergies has called for action and another Democratic senator’s daughter is CEO of the company responsible for the price hike.
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The company has come under fire in recent days over the cost of the popular EpiPen, the most common epinephrine injector on the market.
“Since there is no apparent justification in this case, I am calling on Mylan to immediately reduce the price of EpiPens”.
Two U.S. senators are raising concerns about massive price increases on a drug used under emergency conditions for food allergy reactions to see if they are justified.
She called the price hike “outrageous – and it’s just the latest troubling example of a company taking advantage of its consumers”, in a statement on Facebook.
According to data provided by Connecture, an online health insurance solutions company, the annual salary of Mylan CEO, Heather Bresch, increased from $2,453,456 in 2007 to $18,931,068 in 2015.
The drug used to cost $100 five to seven years ago, but it has now jumped to $600. A pack of two EpiPens now costs more than $600, which is six times the 2004 price, according to Elsevier’s Gold Standard Drug Database.
Richard Blumenthal said Wednesday that a senator’s daughter should not get special treatment when it comes to an investigations of her pharmaceutical company.
Sens. Amy Klobuchar of Minnesota and Richard Blumenthal of CT want the Federal Trade Commission to investigate Mylan for possible antitrust violations.
In a previous statement, Mylan said the EpiPen’s price “has changed over time to better reflect important product features and the value the product provides”. According to Securities and Exchange Commission filings, her total compensation increased 671 percent from 2007 to 2015, topping out at $18,931,068 million past year. Charles Grassley of Iowa has now asked the company to explain its pricing.
U.S. Rep. Grace Meng, D-N.Y., asked the House Oversight and Government Reform Committee to hold a hearing on the issue.
In Australia, EpiPens fall under the Pharmaceutical benefits Scheme (PBS), Australiam Medical Association (AMA) Vice President Dr Tony Bartone confirmed, so any price hike would not be borne directly by patients.
Pharmaceutical and biotech industries can fuel American innovation, and combat debilitating diseases, Clinton said in the statement Wednesday.
Clinton said her plan also encourages the production of alternative products to “keep drug prices at a level that all Americans can afford”.
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“Many of these peanut allergic kids that have EpiPens at school would potentially not need an EpiPen should they go through a desensitization that is going to potentially be approved in 2018”, said Friedman.
