The peer-reviewed article, EpiPen price hikes comes under scrutiny, by Rita Rubin reports the out lash towards the drug company Mylan and CEO of Mylan Pharmaceuticals, Heather Bresch, during recent years due to the increased price of EpiPen. “… since the drug company Mylan acquired EpiPen in 2007, its price has soared more than 400%, to just over US$600.” For many Americans, the fear of losing a loved one simply because they can no longer afford the medication is very real, as according to the Wall Street journal, “some 3.6 billion Americans were prescribed an EpiPen [in 2015].” Pharmaceutical profiteering has always been a concern and continues to increase as “Mylan has a virtual monopoly over the epinephrine auto-injector market”, said Maryland Democrat Elijah Cummings and Jason Chaffetz, a Utah Republican who chairs the House Committee on Oversight and Government Reform.
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The drug was first discovered in the 1970s but is now included in the World Health Organization’s list of essential medicine, which costs only a few dollars for a vial. After being sold around a few times, Mylan Pharmaceuticals bought the business and currently owns 90% of the market share for epinephrine devices. “When Mylan acquired the EpiPen, the drug was making $200 million a year; now it makes more than $1.1 billion a
The drug was first discovered in the 1970s but is now included in the World Health Organization’s list of essential medicine, which costs only a few dollars for a vial. After being sold around a few times, Mylan Pharmaceuticals bought the business and currently owns 90% of the market share for epinephrine devices. “When Mylan acquired the EpiPen, the drug was making $200 million a year; now it makes more than $1.1 billion a