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re: Cost Of Life-Saving EpiPen Injectors Soars To $700 A Set
Posted on 8/22/16 at 10:51 am to Darth_Vader
Posted on 8/22/16 at 10:51 am to Darth_Vader
quote:
Forbes estimates the cost of the actual medicine is about $1 per dosage.
Then it should be really easy to produce a generic. The patent protection is expired. Yet the two other companies that have tried have been unable to duplicate the product.
Israeli pharma company Teva's product was rejected by the FDA in March for "certain major deficiencies" and Sanofi's generic product (Auvi-Q) was recalled soon after hitting shelves.
quote:
With its nemeses sidelined, Bernstein analyst Ronny Gal has predicted EpiPen could capture about 95% of the blockbuster epinephrine injection market--a position that would allow Mylan to up its price on the med, which climbed by 222% between 2007 and 2014.
Supply and demand is a bitch sometimes.
1
Posted on 8/22/16 at 10:51 am to Darth_Vader
quote:
and the actual medicine only costs about $1.00 per dose. I'm a firm believer in the capitalist system but this is just straight up robbery.
Does that include R&D or literally the cost to make that EpiPen?
If they barely make a profit on this drug they will not have money or incentive to invest in new drugs that we will need.
Posted on 8/22/16 at 10:51 am to Darth_Vader
quote:
and the actual medicine only costs about $1.00 per dose. I'm a firm believer in the capitalist system but this is just straight up robbery.
well 698 other people need to get their $1 profit as well
Posted on 8/22/16 at 10:51 am to yoga girl
quote:
This is outrageous. Kind of kills the argument that capitalistic businesses don't need strict government regulation.
ideally some one would come in to compete against this price gouging. Makes you wonder if there is some sort of collusion going on between big pharma.
Posted on 8/22/16 at 10:51 am to Darth_Vader
Damn, have to get a couple of new pens for my daughter. Thankfully with insurance it's only a $30 copay but it still irks me that the pharm company is raping the consumers.
Posted on 8/22/16 at 10:52 am to Bmath
quote:
In 2007, a two-pack of the epinephrine-filled devices went for $56.64 wholesale, according to data gathered by Connecture, a health insurance technology and data analytics company. Now it's jumped to $365.16, an increase of 544.77 percent. Since the end of 2013, the price has gone up by 15 percent every other quarter.
quote:
That's $700 after insurance.
Are you sure about that cause in the article it states that these are wholesale prices? I know glucagon emergency kits which treat low blood sugar carry a co-pay typically of $50 and the medicine is good for a year. I would think it would be pretty similar with these Epipens.
Posted on 8/22/16 at 10:53 am to lsu13lsu
quote:
Does that include R&D or literally the cost to make that EpiPen?
I'm sure all R&D $$ have been recovered
Posted on 8/22/16 at 10:53 am to yoga girl
If you include the injector the total cost could only be a few bucks.
With those margins there is no way another company wouldn't jump in to get a piece of that market, UNLESS the government is keeping out competitors.
With those margins there is no way another company wouldn't jump in to get a piece of that market, UNLESS the government is keeping out competitors.
Posted on 8/22/16 at 10:53 am to oleyeller
Ahhh, the assholes that give capitalism a bad name...
Posted on 8/22/16 at 10:54 am to Darth_Vader
$700 for a medication that most people with severe allergies have to have on them, but rarely use, is absolutely insane. And they have to be replaced every year to be effective. Price gouging at its worst
Posted on 8/22/16 at 10:54 am to Darth_Vader
Working in a school with a decent amount of kids that are legitimately allergic to some foods and definitely allergens/insect bites, it's a little scary to think parents may have to make the choice to not fill the Epipen because of the cost.
Posted on 8/22/16 at 10:55 am to lsu13lsu
quote:
Does that include R&D or literally the cost to make that EpiPen?
If they barely make a profit on this drug they will not have money or incentive to invest in new drugs that we will need
No, it's intentionally a crazy margin. The product isn't expensive to make. But they are taking full advantage of the marketshare they currently own, b/c someone will (eventually) cut into it with a generic in the future.
I really can't fathom how both other companies have failed with their products, but the FDA can be a giant pain in the arse during trials. Sometimes for good reason, and sometimes for political ones.
This post was edited on 8/22/16 at 10:57 am
Posted on 8/22/16 at 10:56 am to Darth_Vader
quote:
Forbes estimates the cost of the actual medicine is about $1 per dosage
It's messed up, but I would love to see how Forbes got to that number.
Posted on 8/22/16 at 10:56 am to Darth_Vader
A part of me says that it should be up to someone else to come up with an equally idiot proof delivery system (that's really the value in what Mylan owns, not the medication itself) and undercut these jerk-offs. That's how a market economy works. The problem is that when you regulate the crap out of the pharmaceutical industry that's not really a realistic solution. So then the other part of me says that we should have some protected, common good type drugs, that no company can mark up 70,000%. Epi pens, rescue inhalers, vaccines, etc...you know, life saving stuff that some child would need to no fault of their own.
Posted on 8/22/16 at 10:56 am to yoga girl
quote:
Kind of kills the argument that capitalistic businesses don't need strict government regulation.
actually proves just the opposite
government regulation is exactly why there are not more competitors
Posted on 8/22/16 at 10:57 am to Salmon
quote:
actually proves just the opposite
government regulation is exactly why there are not more competitors
Preach.
Posted on 8/22/16 at 10:58 am to Darth_Vader
quote:
The rising cost of the life-saving allergy medicine EpiPen is forcing many families to make tough choices.
Posted on 8/22/16 at 10:58 am to yoga girl
quote:
Kind of kills the argument that capitalistic businesses don't need strict government regulation.
No it doesn't.
One situation like this occurs and all of a sudden government is needed in EVERY aspect of business?
Come on.
Posted on 8/22/16 at 10:59 am to colorchangintiger
quote:
deally some one would come in to compete against this price gouging. Makes you wonder if there is some sort of collusion going on between big pharma.
Oh, you KNOW there is collusion - "you don't compete with my product and we won't compete with your product."
I'm sick of greedy corporations gouging us - time to fight back.
Posted on 8/22/16 at 11:00 am to Upperdecker
quote:
And they have to be replaced every year to be effective. Price gouging at its worst
I love expiration dates like this for liability reasons. I'm curious how long the drug would really work for? I have no idea and I know it's not worth risking your life either, but it's always laughable when a drug works on day 365 but 366 you gotta throw it away.
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