Mylan Argumentative Essay

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

We already know that there has been a precipitous decline in the study of liberal arts because many people do not value it anymore. English and history are now being pushed aside for math or science. Fareed Zakaria, an American journalist and author, in his article, “What's the Use of a Liberal Education?” writes, “Even President Obama recently urged students to keep in mind that a technical training could be more valuable than a degree in art history. Majors like English, once very popular and highly respected, are in steep decline.” This mindset is causing many people to turn away from liberal arts-based subjects, so they can pursue something that would “be more valuable”.

In the article “Mylan Faces Scrutiny Over Epipen Increases,” by Jonathan D. Rockoff, the product of EpiPen is discussed, along with Mylan’s incentive to increase price, and the public and governmental backlash to this price increase. EpiPen is a lifesaving, emergency, allergy treatment that keeps those who have extreme allergic reactions from going into severe shock. It is used by millions of people, including many schoolchildren. A pack of two costs $608.61, which is up 548% since 2007, as the product has had 17 price increases over the years, according to Truven Health Analytics. Over 3.6 million prescriptions for the product were written last year, according to IMS Health.

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.

This meant it could exercise its government monopoly when it bought the drug and device from Merck and started marketing the EpiPen in 2007. Many auto injectors have come and gone but Mylan has cornered the market here in the U.S. Mylan truly became synonymous with the Epiepen when when President Barack Obama signed a bill in 2013 incentivizing schools to stock epinephrine, it was called the "EpiPen Law." Mylan lobbied heavily for that bill yet according to Mylans CEO Heather Bresch a broken health system that has let deductibles and copays skyrocket on many insurance policies. If deductibles had stayed low, parents and other EpiPen users probably wouldn’t have noticed that Mylan had increased the price of a two-injector set from around $100 seven years ago to more than $600 this spring. The Medical Device Excise Tax Section 4191 of the Internal Revenue Code imposes an excise tax on the sale of certain medical devices by the manufacturer or importer of the device. On Dec. 5, 2012, the IRS and the Department of the Treasury issued final regulations on the new 2.3-percent medical device excise tax (IRC §4191) that manufacturers and importers began to pay on their sales of certain medical devices starting in

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It was announced that Mylan will soon release a generic version of the epinephrine injectors and it almost cuts the price in half. Committee Chairman Jason Chaffetz of Utah stated, “the actual juice that’s in here that you need costs about a dollar.” Of course, Mylan still has extremely high prices for this relatively cheap product. Another way Mylan wants to help cut prices is by offering $300 coupons to those who need them. The only people that receive these coupons are the ones whose insurance does not cover the cost of the EpiPen

There are often expenses that are not planned for, especially when it comes to healthcare. Recently, there has been a spike in the cost of a commonly-used device to treat many severe allergic reactions: The EpiPen. The EpiPen is an epinephrine auto-injector that is used to treat anaphylactic shock. Anaphylactic shock is “a severe, potentially life-threatening allergic reaction that occurs within seconds or minutes of exposure to an allergen” (Mayo). A pack of two EpiPens can cost around six-hundred dollars, while it only costs around fifteen dollars to create one. (Mangan) Since Mylan NV, the maker of EpiPens, “acquired the rights to the drug in 2007, it’s raised the per-dose list price from about $50 a shot to $304... The EpiPen now generates about $1 billion a year for Mylan” (). In addition, in 2013, the U.S. government “passed a law that gave funding preferences for asthma treatment grants to states that maintained an emergency supply of EpiPens” (NYTimes). The distribution of the product is definitively limited to those willing and able to pay a copious sum for a drug that might save one’s life. Therefore, a solution to this limitation must be made in order to produce more adequate healthcare.The Epipen distribution system can be fixed in a variety of ways that benefit either the consumer or the company, but still result in an increase in the number of people who can access the medicine, which is important for many reasons. The best solution to this situation would

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The EpiPen company started in 1987 when the Food and Drug Administration (FDA) approved it. In 2006 the EpiPen was developed and sold at a reasonable price until Mylan took over. “The EpiPen changed hands several times, eventually landing at the now-vilified pharmaceutical company Mylan in 2007” (Rimler). After Mylan Company finally had control of the EpiPen, which she bought $34.50 per pen, aimed at getting schools to stock

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

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I was shocked to learn that EpiPen’s are sold for $600 when the epinephrine included in it costs less than $10 retail! That is an absurd markup! “The FDA has systematically slowed down approval of EpiPen competitors and smothered generic competition in unrealistic red tape.Meridian Medical Technologies, a subsidiary of Pfizer that manufactures EpiPen for Mylan,