An Epipen is an injection containing epinephrine that is used to treat allergic reactions. This is a necessary and vital item that is needed for children and adults to easily stop their allergic reactions. It allows them the ability to continue through their everyday lives. Because of this you’d think the Epipen was priced affordably to allow families a little piece of mind, but it’s not and its price point is shockingly high – $600!
Although the Epipen is necessary for many individuals to have due to the fact that many people have allergies, Mylan (the company producing the Epipen) has been dramatically raising the price over the last nine years. In 2007, the cost of two injectors cost about $94.00 and now in 2016, the same product now costs $600 – that’s an increase of over 400% in the last eight years!
Not only is the price increase ridiculous itself, but the producers of the Epipen are making a great profit due to their overpricing. And since consumers don’t have many options, they are forced to spend that kind of money for something that they NEED. According to many articles, the Epipen costs no more than thirty dollars to actually make which means the company Mylan is making twenty times more money than they technically should.
Many people who are in need of this product are understandably outraged at this price increase. Recently there have been several protests outside of Mylan pharmaceuticals and on the streets all over the country, including in West Virginia and New York City. These individuals are suggesting that Mylan is putting their profit over people in need. Even Hillary Clinton has stated that this situation is, “the latest troubling example of a company taking advantage of its consumers…”. And although there have been many people openly against the price hike, Mylan has stated that they are refusing to drop the price. The CEO of the company has stated, “Had we reduced the list price, I couldn’t ensure that everyone who needs an EpiPen gets one,”. Sounds like another example of companies putting profits before consumers.