Bernie Sanders and Elizabeth Warren are among 20 Democratic senators who signed an open letter to pharmaceutical company Mylan, expressing outrage over the ‘exorbitant’ price rise of the EpiPen auto-injector.
Since Mylan acquired the exclusive rights to manufacture and market the EpiPen in 2007, a series of hikes have seen its retail cost rise from $56.64 to $317.82, an increase of 461 percent.
This contrasts starkly with the cost of EpiPen in other countries.
In New Zealand, the auto-injector costs around $120, in the U.K. it’s a little less at about $112, and across the border in Canada, it can be bought for as little as $100.
Meanwhile, since 2007, Mylan CEO Heather Bresch has enjoyed a pay rise of $2,453,456 to $18,931,068, a 671 percent increase. Last week, she sold over 100,000 Mylan shares, adding more than $5 million to her personal wealth.
Issued on Tuesday, the scandalized senators’ letter read:
“The EpiPen auto-injector delivers a life-saving dose of epinephrine to patients suffering from anaphylaxis. Anaphylactic shock can lead to serious injury or death if untreated; thus, making sure the EpiPen is readily available for use is a critical part of life for millions of Americans living with severe allergies.
The EpiPen, however, has become so exorbitantly expensive that access to this life-saving combination product is in jeopardy for many Americans.
Mylan’s near monopoly on the epinephrine auto-injector market has allowed you to increase prices well beyond those that are justified by any increase in the costs of manufacturing.”
The letter is just one voice in a growing chorus of disapproval, as previously reported here at Liberal America. A petition with more than 700,000 signatures was delivered to the Mylan head office this week, and the actor Sarah Jessica Parker – who endorsed EpiPen in the past – has publicly cut her ties with the company.
Democratic presidential candidate Hillary Clinton has also gone on record to criticize Mylan for price gouging, promising to force reductions in pharmaceutical costs.
Clearly stung by the criticism, Mylan is rushing to produce a cheaper, generic version which it claims will cost around 50 percent less. However, this will still make it more expensive than the same medicine in other countries.
The widespread outrage surrounding EpiPen reflects increasing anger over the profiteering practices of ‘Big Pharma.’
It has been asserted that medical bills are the biggest single cause of personal bankruptcy, a state of affairs that is unique to the U.S.
Watch the Mylan boss here, justifying the insane cost of EpiPen and claiming:
“…No one’s more frustrated than me.”
Yeah, sure… Except maybe the parents who make less than you do in a day, or those who otherwise cannot afford the lifesaving medication they need to keep their children alive. Nope – they’re not frustrated at all.
Featured image: Greg Friese via Flickr/CC-By-2.0
