People around the world depend on their EpiPen to work in the case of life-threatening allergic reactions. But two people recently found out the hard way that their EpiPens were faulty. As a result, the makers of EpiPen are recalling over 81,000 EpiPens in Australia, New Zealand, Norway, Denmark, Finland, Ireland and Japan.
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Mylan, the drug company that makes EpiPens, has been overcharging Medicare and Medicaid in the US for years. But today the pharmaceutical company had to finally pay the piper. In a deal announced by the notorious price-gougers, Mylan will hand over $US465 million ($611.8 million) to the US government, but it won't have to admit any wrongdoing.
Two weeks ago, Mylan CEO Heather Bresch got up in front of Congress and lied about how much profit the pharmaceutical company makes on the EpiPen. And Congress is pissed.
Last week, Heather Bresch, the CEO of Mylan Pharmaceuticals, testified in front of the US Congress about why the company has raised the price of EpiPen from roughly $US57 ($75) in 2007 to $US600 ($785) in the US today. (EpiPens are subsidised in Australia and typically under $100). Under intense questioning, she claimed that the company only makes about $US100 ($131) per two-pack of EpiPens. Today the company was forced to "clarify" that the price was actually higher. They make $US160 ($209).