Epipen Controversy

Initially, from 2000 to 2001 the amount of money that was spent on prescription drugs had risen by nearly 20 percent as the cost of medication also rose. Lawmakers looked at different strategies such as including the drugs in medicare or having them be sold over the counter as insurers and consumers struggled to pay (Steinhauer). This substantial increase in drug cost did not go unnoticed. As the rising costs of drugs were passed onto insurers, they looked for solutions. One large California health insurer, Wellpoint Health Networks, saw a solution in having more drugs sold without prescriptions. The California insurer argued that top allergy drugs should be made more widely available and cheaper, and selling Claritin, Allegra, and Zyrtec, three top allergy drugs, over the counter would accomplish both of those things (Petersen “A Push to Sell”). Manufacturers argued against them, saying that such a move would be dangerous to the consumer, forcing them to diagnose themselves rather than have a professional do it for them. Some news in pharmaceuticals, however, had to do with criminal activities. The United States Food and Drug Administration investigated multiple cases of counterfeit drugs. In each of the three cases, the drugs were extremely expensive, one used by AIDS patients, another a growth hormone for people who cannot produce enough

The current debate over the Mylan Company’s near monopoly of the epinephrine market through its EpiPen shows what can happen without monopoly regulation. While the cost to produce an Epipen is around $30, the price to the consumer is around $300 each. The economic implications for a family that needs to keep the device on hand to save a life can be excessively high, the emotional results of not having one when you need one are debilitating. This monopoly is further enhanced by state-enforced regulations requiring that schools keep EpiPens in stock and the, so-called, EpiPen law enacted in 2013, which leave little incentive for other pharmaceutical companies to develop their own technology for fast-acting emergency devices. (Bartolone, 2016) Breaking Mylan’s monopoly will not only lead to new product development but lower prices for consumers for a life-saving delivery

The EpiPen device automatically injects a drug called epinephrine, which reverses potentially deadly allergic reactions. It is the only device of its kind available in the United States. Millions depend on carrying the device at all times. For decades the EpiPen was available at a low cost until the Mylan Company purchased it in 2007. Since then, the price has risen over 400% creating a public backlash of media reports, social media petitions, and politician’s calling out Mylan executives to explain the reason for the price raise. Lack of compassion and appearance of greed has tarnished the public image of the company. Mylan has begun looking for ways of rebuilding their image by releasing compensation to the public in the form of generic cheaper EpiPens and payment assistance to eligible patients, but it might be too little too late in this current ongoing communication crisis event.

Even though the pharmaceutical industry had been highly profitable and contributed about 40% OF Ciba-Geigy’s revenues in profit, there were some trends, which were worrying. The government had attempted to reduce a cost of healthcare thus; pressure to lower costs was mounting on industrialized countries. There were restrictions to introduce new products, and price control became stricter while limiting the freedom of doctors to prescribe medications. Patent controls were becoming reduced, and the pharmaceutical industry was becoming increasingly criticized. These trends later made the industry to

According to the KFF article, Medicare and Medicaid spending on each EpiPen increased from $71 in 2007 to $466 in 2015 (from Slavitt's letter), or 656%. This is clearly much higher than the inflation rate of roughly 20% over the last 10 years (i.e. prices are now 20% higher than they were 10 years ago). This means that the government is entitled to the vast majority of the $1,879,976,260 that is owed minus the rebates already paid.

EpiPens are arguably one of the most important devices for those to carry who suffer from life-threatening allergies. The auto-injector pen contains the drug epinephrine, which treats an allergic reaction, anaphylactic shock, in emergency cases. Recently, there has been an uproar among the public about the increasing prices of Mylan’s EpiPens. In 2007, the products cost was around $100.00 for a two-pack of pens. Now, however, the name brand is selling for over $600.00 a pair; resulting, in a 400% price increase. Different companies are now creating similar products in hopes of being more affordable and as efficient as the original EpiPen. Mylan Pharmaceuticals is even creating their own version of an authorized generic form of the EpiPen as well. In the first article, “Mylan Tries Again to Quell Pricing Outrage by Offering Generic Epipen,” by Andrew Pollack, focuses on just Mylan 's version of their EpiPen along with their increasing prices. The second article, “Can You Get a Cheaper EpiPen,” by Ginger Skinner, emphasizes on not only Mylan 's’ product, but also other generic products as well as a do-it-yourself. Both of these articles focus around the idea of an affordable, effective, and accessible off brand version of the EpiPen while also providing important side information about all of the products and risks; however, the second article offers more information about different generic products rather than just

The rise in drug prices is causing the public to ask why this is so and why there isn’t anything being done, or what the reason could be for sky high prices. Some of the reasons include pharmaceutical companies setting their drug prices

The rise in costs of prescription medicines affects all sectors of the health care industry, including private insurers, public programs, and patients. Spending on prescription drugs continues to be an important health care concern, particularly in light of rising pharmaceutical costs, the aging population, and increased use of costly specialty drugs. In recent history, increases in prescription drug costs have outpaced other categories of health care spending, rising rapidly throughout the latter half of the 1990s and early 2000s. (Kaiseredu.org, 2012).

Recently, there had been a controversy over the rise in pharmaceutical costs involving the EpiPen in the United States. The EpiPen, also known as adrenaline/epinephrine, is a widely used injection that is used to treat allergic reactions. This generic drug has been available for many years. The EpiPen controversy is a prime example of how monopoly

Supply, Demand, & Market Equilibrium: Appraising the price elasticity of supply* 〖(E〗_s) and demand* (E_p) of a medical device is vital. Based on geographical region, a consumer in 2013 paid from $4,400 to $17,301 for a total hip replacement (BCBS, 2015). To add scope, 2.5 million Americans undertook a total hip replacement in 2010 (Kremers et al, 2015). If J&J’s new artificial hip cuts overall cost by five percent, while increasing overall supply by 10 percent, the price elasticity of supply is two, and hence elastic (E_s > 1). Or, if quantity demanded rises 15 percent while prices decline by five percent, the price elasticity of demand is 2.72, and therefore elastic (E_p > 1). As such, the artificial hip is an elastic good. When a good is elastic, a price alteration swiftly results in a quantity demanded change (Investopedia, n.d.), and this important to any

Prescription drug prices are on the rise in the United States. Currently, the United States does not implement a price control on prescription drugs. Every day the supply and demand for prescription drugs fluctuates. Pharmaceutical companies produce drugs that are necessary for survival. Therefore, it is necessary for research and development to continue in the United States. Those suffering the effects of exorbitant prices must do so until a generic form of a prescription drug is produced. Once approved by the FDA, new drugs will make their appearance on the market and patients will no longer suffer financially. Until then, it is necessary for pharmaceutical companies to price their drugs based on the idea of supply and demand. This produces the profit used to fund research. Price controls discourage innovation. If a price control were set in place, of course the price of prescription drugs would decrease. However, the development of new drugs decreases with it. Today’s generation would benefit from lower prices, while future generations would suffer from the loss of drug innovation.

Would I have used another student’s EpiPen, if you had witnessed a student suffering from anaphylaxis?” It is challenging question that creates a moral dilemma. My answer is no or yes. To use someone‘s medication for another person is unlawful because it violets nurses practice low. As RN you are not licensed to prescribe medicine to patient. You are only allowed to give medications to the patient that are prescribed by physician. However, watching a child die while you know deep in your hear that you could save that child with another child’s EpiPen is not easy.

Considering our upcoming press conference, it is important to remember that we all represent Mylan and coordinate the message we want to project out in public. Bearing in mind the recent distractions, we need to reaffirm who we are and what we stand for. It is imperative to reiterate that Mylan is a cutting edge, innovative company that delivers high-quality, lifesaving products.

Thesis: Just last month, Mylan Pharmaceuticals was able to monopolize the EpiPen, the first line of defense against severe allergies in America, raising the price of the life-saving product by four-hundred percent.

This is obviously a huge topic in bioethics debates, especially recently after various changes in Federal Healthcare protocols. Some people depend on pharmaceuticals as a daily part of their routine, requiring some medicine or other for a condition or health issue. A prime example of this is the recent hike in the price of epinephrine shots, commonly known as the Epipen produced by Mylan Pharmaceuticals. This medication has seen a huge increase in pricing rising from roughly $50 in 2007 to over $600 this year. This is a shot used for common allergic reactions and therefore is used or carried by millions of people every day. The concern then is that pricing will get too high and patients will have to do without some medications leaving them vulnerable or even helpless in the face of certain conditions.