Mylan announces immediate plans to cut price of EpiPen
pharmafile | August 25, 2016 | News story | Medical Communications, Research and Development | Mylan, clinton, epipen, increase
Subject to intense pressure over the last few days, Mylan has made an attempt to avoid becoming “another Valeant” by declaring that it will take “immediate action” to reduce the price of its EpiPen (epinephrine injection) auto-injector in the US.
The company had come in for some very heavy criticism from political figures such as Hillary Clinton as well as the mainstream media, when it emerged that the cost of the allergy device had risen 400% since 2008. This also coincided with a 671% increase in the compensation for Mylan CEO Heather Bresch.
A statement from Hillary Clinton says: “That’s outrageous – and it’s just the latest troubling example of a company taking advantage of its consumers. I believe that our pharmaceutical and biotech industries can be an incredible source of American innovation, giving us revolutionary treatments for debilitating diseases. But it’s wrong when drug companies put profits ahead of patients, raising prices without justifying the value behind them.”
Mylan seems to have taken quick action to avoid become the latest “poster child” for price gouging in the industry with a pledge to cover up to $300 of out-of-pocket costs at pharmacy, which aims to in effect reduce patient cost by 50% off Mylan list price. The company is also doubling the eligibility for its patient assistance programme, which will eliminate out-of-pocket costs for uninsured, and under-insured patients, and families as well.
Bresch says: “We recognise the significant burden on patients from continued, rising insurance premiums and being forced increasingly to pay the full list price for medicines at the pharmacy counter. Patients deserve increased price transparency and affordable care, particularly as the system shifts significant cost to them.
“However, price is only part of the problem that we are addressing with today’s actions. All involved must also take steps to help meaningfully address the US healthcare crisis, and we are committed to do our part to drive change in collaboration with policymakers, payers, patients and healthcare professionals.”
Sean Murray
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