In an August 22, 2016, New York Times article, Tara Parker-Pope and Rachel Rabkin Peachman reported on the steep increase in the price of the EpiPen, a lifesaving injection device for people with severe allergies, and the outrage these price increases have caused with consumers and lawmakers.
According to prescribing information, the EpiPen contains epinephrine, which is used for emergency treatment of allergic reactions, including anaphylaxis to bees, wasps, hornets, yellow jackets and fire ants, mosquitoes and food allergies.
A major concern is that parents will not be able to afford pens for children returning to school. The following is a link to that excellent article. The reporters should be commended for bringing attention to this disturbing corporate decision by Mylan, the pharmaceutical company who markets the device.
Senator Klobuchar of Minnesota and Senator Grassley of Iowa should also be commended and supported for questioning these price hikes. How can we allow corporate profits to limit access to a life saving device for children and others? Please contact your senator and congressman or congresswoman and ask them to help with this problem.
I am a trial lawyer, but this problem does not have anything to do with cases I am currently working on. I am also a parent, and while my child does not have allergies which require the use of an EpiPen, families that I know and care about do have to purchase EpiPens. I’ll bet that many of you who read this or the NYT story either use EpiPens or know people that do.
So, why would Mylan raise the price of a lifesaving device from $100.00 to over $600.00 in nine years?
Maybe Mylan CEO Heather Bresch can explain it? Maybe Mylan’s CFO John Sheehan can explain it? Hopefully they will have to. Mylan (MYL –Nasdaq) reported 2015 full year adjusted total revenues of $9.45 billion dollars. Yes, billion. For 2016, Mylan is anticipating total revenues of $10.5 to $11.5 billion dollars. While this company may be proud of their corporate earnings, it should be ashamed if corporate greed prevents any child from having a lifesaving device.
Please share the NYT article with your friends, and perhaps we can help families who need the EpiPens be afforded the opportunity to buy them at a reasonable price.