The Effects Of Epipen On The Pharmaceutical Industry Marketplace Competition Is The Only Thing That Can Keep Prices

2002 Words 9 Pages
In the pharmaceutical industry, marketplace competition is the only thing that can keep prices in check. This presents a problem for Americans who need to buy from a brand that has essentially monopolized the market of a certain medicine. For instance, over the past eight years, the price of a commonly used medical device, the EpiPen, has been steadily increasing. The EpiPen is an epinephrine auto-injector used to treat severe allergic reactions and anaphylactic shock (Varandani); anaphylactic shock is “a severe, potentially life-threatening allergic reaction that occurs within seconds or minutes of exposure to an allergen” (Mayo). A potentially life-saving device should not be a financial burden on the people who need it; yet, a pack of two EpiPens can cost around six-hundred dollars, while it only costs around fifteen dollars to create one (Mangan). However, EpiPens have not always been so expensive. Since Mylan, the maker of the EpiPen, “acquired the rights to the drug in 2007, it’s raised the per-dose list price from about $50 a shot to $304... The EpiPen now generates about $1 billion a year for Mylan” (Koons). The purchase of the product is limited to those willing and able to pay a copious sum for a potentially life-saving drug. The EpiPen distribution system should focus on lowering the overall price and increasing the accessibility of the medical device for consumers through a partial-refund system, where previously purchased and expired EpiPens are returned for a…

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