What is EpiPen? Well, it is a portable epinephrine injector which can potentially save anyone having a life-threatening & complicated allergic reaction. As per the collected data, the maker of EpiPen is being accused of insanely raising the original price of this essential drug from nearly $100 in 2008 to approximately $500 today. Overall, that’s an increase of more than 400 percent.
This price hike is particularly worrying because this drug manufacturing company has a monopoly in its business, specifically after one of its rivals has issued a recall just last year. Even, the renowned doctors also have likened this brand dominance in several schools. Moreover, many schools maintain an emergency epinephrine in stock and there are few states pushing for a legislation to make this mandatory.
The increase is so incredibly high, Martin Shkreli has also spoken out against this move. You’ll be surprised to know that Martin Shkreli is another person who has been considered as the most hated person over the internet when his company, Turing Pharmaceuticals has also raised the price of an anti-parasitic drug from $13.50 a pill to nearly $750.
Martin Shkreli reported to the NBC News that Mylan pharmaceutical is actually acting as a vulture. And certainly, this company may have lost its moral compass. Plus, he has tweeted his remarks over the social media too.
In an earlier official statement, Mylan pharmaceutical said the prices have been changed over time in order to better reflect the important product features & the value that it provides. Also, they have reported that the company has made a meaningful investment in order to support the medication over the past few years.
As per the financial report which’s released last week, it’s reported that Mylan’s sales have increased, thanks to an utterly Expensive drug, EpiPen.
With a good insurance, & using some coupons, it’ll be possible to pay little while buying an EpiPen. However, people who don’t have adequate insurance in the U.S are left without many choices, particularly in pharmacies.
A number of officials have also spoken out, for example, the former presidential candidate Bernie Sanders has expanded his sentiment in an official statement sent to the NBC News. He said that the drug industry’s greed seriously has no bounds. Additionally, it’s quite clear from his statement like Mylan increasing the price of a potential drug by six times since 2009 indicates the company values more profits than the lives of thousands of Americans.
While NBC stated that though there isn’t any House committee investigation that can work in this case, but there’s a lawsuit probably on the way.
Ari Kresch, the honorable CEO of 1-800-LAW-FIRM has also said that he has used EpiPen for years because it was a very cheap drug till date. But he isn’t totally sanguine why the price has gone up so high.
Even we’re also quite skeptical about this extensive price hike of EpiPen. We’ve reached out to the company Mylan for an official comment & will definitely update you if we get to hear back.