EpiPen Gouges Sick People For CEO BonusesPublished on Aug 27, 2016
EpiPen manufacturer Mylan is facing scrutiny and criticism for its recent business practices. Cenk Uygur and John Iadarola,hosts of The Young Turks, break it down.
“It’s not hard for pharma companies to appear villainous, but Mylan, the maker of the EpiPen, may be in a class by itself.
Mylan has drawn the ire of patients, consumer groups and now Congress for raising the price of the device 400% since it acquired EpiPen in 2007. The implement, which delivers life-saving medicine for severe allergy sufferers, can now cost more than $300 per pen. It’s only sold in pairs and must be purchased every year because the drug, epinephrine, loses potency over time. Sales of EpiPen are now in excess of $1 billion annually.
Asked for comment, Myan referred to a statement on its website explaining the problem with the EpiPen isn’t its cost, but the high deductible of many people’s health insurance plans. The company also provides coupons that reduce the cost by $100.
But repeatedly raising the price on the device reflects an aggressive corporate culture at a company that doesn’t mind making enemies.”
By Caitlin Kelly
Here’s how to find one, my story yesterday from Forbes.
The backstory, for those of you who don’t use or need one, is the staggering price increase for the EpiPen, an injectable device that pumps epinephrine into your system to address anaphylactic shock, an allergic reaction to nuts, shellfish, fish or any number of substances.
If someone goes into that shock, they need the injection within 30 minutes or they can die.
In the U.S. — whose entire healthcare “system” is run to wring the maximum profit from our inevitable physical needs — there’s only one company making them right now, Mylan, whose female CEO, Heather Bresch, the daughter of a Senator, no less, might be the most loathed individual in the country right now.
Knowing she has the market cornered, (as other competitors left the field), she spiked the price of EpiPens to $600 — a…
View original post 311 more words