EpiPen controversy spikes with price hikes
The EpiPen is a rescuing tool that has been used by many people over the years. Its purpose is to counter acute allergic reactions through the release of epinephrine into the blood. Mylan, a pharmaceutical company, gained the rights to the EpiPen in 2007 and since then has been raising the price of the device by 10% biannually. However, this increase in price has been changed from 10% to 15% in recent years; as a result, the EpiPen now costs over 500% more than it originally did ten years ago, according to columnist Tara Parker-Pope of The New York Times.
“It’s a lifesaving medicine that can just resist something completely lethal,” said junior Matt Wear. “A lot of companies that increase their drug prices make their drug more available to people who cannot afford it at all; they just increase the price for people who can afford it but I’m guessing that is not the case in this situation.”
This past summer, many people reacted to the increase in price. For instance, actress Mellini Kantayya created a petition to halt the growth of the EpiPen’s cost. Within 45 days, the petition had over 80,000 signatures and was sent to Congress.
Locally, reactions to the hike in expenses are also disconcerted.
“I understand that the drug companies need to raise money because that helps them to research new drugs that are coming out,” said science teacher Mrs. Paula Nicolau. “But certainly the amount that they have decided to raise the EpiPen is astronomical and definitely not a fair market price for it.”
In a recent announcement, Mylan stated that they will be releasing a generic version of the EpiPen costing $300 as opposed to $600 of the brand name EpiPen. An investigation will be conducted on Mylan in light of recent events by a Senate panel, according to NBC News.
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