On Thursday, Senator Bernie Sanders posted on his public Facebook account about a particularly greedy and egregious sin by Big Pharma - hiking the price of life-saving EpiPens by more than 500% in 8 years. Katie says they have three EpiPen packs for their household because Leilah needs to take one to school. The product became a cash cow for the company accounting for about 40 percent of Mylan's operating profits. "If they don't have [the EpiPen], it could mean life or death", pharmacist Leon Tarasenko says, adding that the high prices are forcing some families to take risks. The price of the EpiPen has gone up almost 500 percent in seven years.
According to CBS News, the cost of an EpiPen shot has risen from $50 in 2009 to over $300 today.
To avoid using allergic reactions and the need for EpiPens, Dr. Cary Sennett, president and CEO of the Asthma and Allergy Foundation of America, said the group's website offers resources such as community forums, recipes, and other advice.
"She could think of clothes", she said pointing to her daughter, "and he could think of sports stuff, it would go further", Malloni said.
In a statement released by Mylan, the company says the price hikes "reflect important product features and the value the product provides". Mylan, in order to promote its sales, remarketed its device and spent millions of dollars on ads.
The Mylan company has a virtual monopoly on the drug since a recall a year ago by their chief competitor.
The price of the life-saving drug, EpiPen, for adults and kids with severe allergies, has jumped nearly 500 percent over the past 8 years, and it's putting an economic strain on local families.
Langreth points out EpiPen is a brand name and says the company has re-marketed the decades-old device without making any significant changes since 2007. It's now $600, and they have a stated expiration of one year.
Wells Fargo analysts said Mylan is unlikely to benefit from the EpiPen scrutiny, TheFly noted. Despite this, families with insurances that have high deductibles receive no such respite and are exposed to high costs.