For my daughter, the EpiPen is a lifeline, not a luxury
Liz Richardson Voyles
Thursday 25 August 2016 12.22 EDT Last modified on Thursday 25 August 2016 12.36 EDT
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The disgraceful 461% increase in the price of this vital medication is a symptom of a system where corporate greed takes precedence over public health
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This month, pharmaceutical company, Mylan, crowed that they smashed second-quarter expectations; with earnings of $2.56bn, up 8% from the year before. Their CEO’s salary has ballooned 671% over the past eight years. The corporation was able to accomplish this in part, because they are the maker of a medical device called the EpiPen, which delivers a life-saving drug to stop an anaphylactic allergy attack. The company has raised the price of this medication 461% since 2007. Mylan’s latest announcement – that it would offer various new pricing concessions to families on lower incomes and those who have to pay out of pocket, cannot alter this stark fact.
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Now before we take the “capitalist pigs” out and lynch them, can we make some inquiries?
1. Is this the only epi pen on the market?
2. Is it patented? If so, how many years left?
3. How is the FDA involved in this process? How much did / does Mylan spend on regulatory compliance?
4. Has there been any “political” involvement?
5. Does a corporation have to “justify” it’s prices? (In a truly free market, the “invisible hand” would prompt supply from competitors very quickly!)
I’d like answers before “we” “hang” them!
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