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Summary: After increasing the price of EpiPens so that they are no longer affordable, drugmaker Mylan is being investigated for antitrust violations.
Mylan Pharmaceuticals is being investigated by New York state’s top legal office for the possibility that the drugmaker has broken antitrust laws over the pricing of its EpiPen. New York Attorney General Eric Schneiderman announced that a preliminary analysis had begun into Mylan by his office, including items such as the terms of sales in contracts with local schools.
Schneiderman said, “No child’s life should be put at risk because a parent, school or health care provider cannot afford a simple, life-saving device because of a drugmaker’s anti-competitive practices. Allergy sufferers have enough concerns to worry about – the availability of life-saving medical treatment should not be one of them.”
Read EpiPen CEO Tied to Democratic Senator.
EpiPen’s are the most popular method of epinephrine autoinjector on the market. The drug is used to treat those having a severe allergic reaction. Mylan increased the price of the EpiPen over 400 percent since 2009. This has raised concern by consumer advocates and critics.
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A generic version was supposed to be made but the FDA has not approved one yet, leaving Mylan’s EpiPen as the only option for consumers that have to pay the price if they want to protect themselves and loved ones. Mylan has stated they will offer a generic version for $300 for the two-pack instead of the $600. They also state they will offer more discounts to make it affordable to users. The EpiPen brings in around $1 billion in profit a year for the pharmaceutical company.
See Big Pharma, Biotech Companies Ask for Patent Protections.
Mylan has given over 700,000 EpiPens for free to more than 65,000 schools across the country. They have also dropped the purchase requirement for schools looking to buy EpiPens at a discount.
Do you think Mylan has done anything wrong by dramatically increasing the price of the life-saving drug? Tell us in the comments below.
To learn more about Mylan, read Retaliation Lawsuit Brought Against Mylan Pharmaceuticals by Ex-Employee.
Photo: the405media.com
