Does anyone know why Epipens are getting so expensive?

[rugatika]

http://www.usatoday.com/story/money/2016/09/21/mylan-ceo-heather-bresch-epipen-congress-house-testimony/90773250/

The CEO of the drug maker that sells the EpiPen allergy-reaction injector defended the company's six-fold price increases Wednesday in congressional testimony, painting the lifesaving treatment as less profitable than it might appear.

Despite Mylan CEO Heather Bresch's best effort to to squelch her company's role in the political firestorm over pharmaceutical profits, she was assailed in a bipartisan chorus over the increases. EpiPen has gone from $100 for a two-pack in 2009 to $608 today.


I've half been following this controversy over the increasing costs of epipens. I used to date a girl who's son depended on them for his allergies. I'm not sure if the Canadian costs are going up as well, or if this is just in the states.

The CEO Ms Bresch, sure didn't seem to perform well in the hearings. I think she's the daughter of a Senator and I heard her mom was on some education board recommending them in schools. (I believe Mylan supplied free epipens to schools at some point)

[Twisted Canuck]

In a nutshell....because they can. It's all about the bottom line, making money and paying the share holders dividends. Even accounting for inflation and other production costs going up, there is no way that prices should climb 600% in that time frame. Good old capitalist greed. Buy stock.

[lmtada]

Check out her Fathers occupation?:argue2:

[rugatika]

Check out her Fathers occupation?:argue2:


http://nypost.com/2016/08/24/ceo-who-gouged-price-of-epipen-is-daughter-of-democrat-senator/
The Democratic West Virginia senator’s daughter, Heather Bresch, is CEO of Mylan, which manufactures EpiPens.

A two-dose package cost around $94 nine years ago. The cost averaged more than six times that in May.

Well that's weird. I didn't think liberals would turn out to be capitalists that take profits on the lives of little children. :sign0161:

[averagejoe]

Some guys came up with a ~$30 home brew option for those that could not afford the price increases. Still needed a prescription for the epinephrine though.

https://www.minds.com/blog/view/625077755582623755

[Grizzly Adams]

Canadian prices are supposed to be much less, to the point some Americans are ordering them from here.

http://www.ctvnews.ca/health/canadians-not-subject-to-same-epipen-price-hike-as-u-s-customers-1.3045181

Grizz

[fordtruckin]

Stupid and a total rip off but what can you do. Hopefully the gov't steps in and helps regulate the increase to a little more manageable level. No wonder we have some of the highest health care costs in the world...

[vinny]

Canadian prices are supposed to be much less, to the point some Americans are ordering them from here.

http://www.ctvnews.ca/health/canadians-not-subject-to-same-epipen-price-hike-as-u-s-customers-1.3045181

Grizz

Yeah we buy them. Nowhere near those American prices. Think we pay around $100.

[Scott h]

The company charges what the market will pay.

[justsomeguy]

It's the latest trend in pharmaceuticals....buy up a company with an old but still in demand drug in a niche market which has no competition. Jack the price way up, make the balance sheet look good then dump the company before the gov't gets you in their sights.

They are sold by another company in Canada so price is sticking to around $100 a pop, still expensive if you need one at home, one at babysitter, one at school, etc.....

[Grizzly Adams]

It's the latest trend in pharmaceuticals....buy up a company with an old but still in demand drug in a niche market which has no competition. Jack the price way up, make the balance sheet look good then dump the company before the gov't gets you in their sights.

They are sold by another company in Canada so price is sticking to around $100 a pop, still expensive if you need one at home, one at babysitter, one at school, etc.....


So much for the Benevolence of Capitalism, they would have us believe in. . :D


Grizz

[vinny]

It's the latest trend in pharmaceuticals....buy up a company with an old but still in demand drug in a niche market which has no competition. Jack the price way up, make the balance sheet look good then dump the company before the gov't gets you in their sights.

They are sold by another company in Canada so price is sticking to around $100 a pop, still expensive if you need one at home, one at babysitter, one at school, etc.....

Glad we're not paying $600 a pop, because we as well have them everywhere like you say. Could add up fast. Good thing for benefits.

[Newview01]

So much for the Benevolence of Capitalism, they would have us believe in. . :D


Grizz

True capitalism would have another Epipen manufacturer up and running right shortly.

[Wild&Free]

True capitalism would have another Epipen manufacturer up and running right shortly.

which would require investors, who would push for going public to make a better return when share prices soar, and eventually would sell out to a takeover bid by the competition who would then raise prices back up. Or, the competition would still charge an over inflated price somewhat lower then the current price and exclaim 'see capitalism works', then be bought out and prices back to current or higher levels.

[javlin101]

Canadian prices are supposed to be much less, to the point some Americans are ordering them from here.

http://www.ctvnews.ca/health/canadians-not-subject-to-same-epipen-price-hike-as-u-s-customers-1.3045181

Grizz

My nephew gets approached by people in the Huston office all the time. $300.00 and and sell for $4-500.00 USD. He has not done its as he figures customs would take an interest in him crossing with a bunch of pens.

[JamesB]

So much for the Benevolence of Capitalism, they would have us believe in. . :D


Grizz
The rest of the story is that the father was instrumental in getting this specific device listed as mandatory in government buildings.
There is little to do with capitalism here, but much to do with corruption.

http://www.businessinsider.com/epipen-cost-increase-healthcare-insurance-2016-8

[lmtada]

The rest of the story is that the father was instrumental in getting this specific device listed as mandatory in government buildings.
There is little to do with capitalism here, but much to do with corruption.

http://www.businessinsider.com/epipen-cost-increase-healthcare-insurance-2016-8

Ding, Ding, Ding. We have a winner. :acigar::acigar: