EpiPens, small tubular devices that inject the user with epinephrine, prove to be crucial to those with allergies. This life-saving drug provides quick, temporary treatment to patients with allergic reactions so they can get to the hospital. But recently, Mylan, the company producing EpiPens has implemented a price hike of 471 percent, causing the price for two devices to go from $100 to close to $600.
Normally, if a drug company increases their prices like this, off brand drugs hit the market to provide to those who need it for a lower price. However, Mylan almost has a monopoly on the product since purchasing the drug company in 2007. The company has a patent on the epinephrine delivery device which destroys competition. Epinephrine on its own is very cheap, only a couple cents worth per EpiPen, but the exact amount and delivery system are incredibly precise and accurate. Without it, the epinephrine is useless.
Sophomore Natalie Ponder has an extreme allergy to peanuts. If she were to ingest peanuts it would close her airways. Ponder depends on EpiPens if she were to ever accidentally consume peanuts.
“I feel like it’s immoral,” Ponder said. “A 400 percent price increase is excessive. It’s like indirectly killing someone.”
The cause of the problem has been a contention of much debate. Some people are blaming the CEOs for being greedy while others blame competition among other things.
“As our society has more allergies and allergic responses to things, the demand has increased,” Mr. Ted Cross, Director of Health Services of MISD, said.
A supply and demand problem makes sense as sales have grown at an annual rate of 33 percent.
MISD, however, has not been affected by the price hike. The manufacturer, Mylan, has a program that provides schools free EpiPens. Mr. Cross explained that the district has received quotes for $56,000 but Mylan supplied the district the crucial drugs at no cost.
“We do have two EpiPens per school in case of an emergent situation,” Ms. Elisa Watkins, Legacy’s RN, said. “Like if somebody didn’t know they were allergic to something.”
These EpiPens that are provided not only save money but save lives in the case of an accident or emergency.
But how is this solved? Mylan has announced a price cut due to all of the criticism it’s receiving, but there seems to be a bigger issue at play. About a year ago, in a similar situation, CEO of Turing Pharmaceuticals Martin Shkreli increased the drug used for HIV victims by 5,556 percent. Drug companies have started to raise the prices of products in the name of profit.
“This is the problem with capitalism,” Ponder said “When you have one company that only makes a certain product and [they] know [they’re] the only one who has it. People have to buy it.”
If this price hiking continues, it could escalate to affect a larger population nationwide.
“We need to have some sort of regulatory means,” Mr. Cross said. “But we need to have a competitive market. It’s a quandary.”
