Tagged With mylan

This year's worldwide recall of defective EpiPens has put people with severe allergies on alert. And now allergy sufferers have even more reasons to worry. Faulty EpiPens have been cited in the deaths of at least seven Americans so far this year, according to FDA reports that have only been made public this week.

Mylan is one of the most loathsome companies on Earth. Usually, they are hated for charging people with life-threatening allergies extortionate amounts of money for the only drug on the market that can help them. But a new report points out that there are many other reasons to hate the company. Namely, contributing to air pollution while they sell drugs to help people with respiratory problems.

For people with severe allergies, having an EpiPen can mean the difference between life and death. Because there's no generic alternative, EpiPen manufacturer Mylan just keeps jacking up the price and ripping off patients. They also seem to have ripped off the US government. Today, a probe by the US Department of Health and Human Services concluded that the company actually stiffed American taxpayers for three times more than was previously believed.

The stock price of Mylan is soaring, but the pharmaceutical company might not be out of the woods yet. After a winter of bad headlines, Congressional testimony and agreements to pay back millions to the US government, the Pentagon is looking at how much Mylan has been overcharging since 2008.

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).

On Wednesday, the Senate's permanent subcommittee on investigations announced it was launching a probe into the pricing of Mylan's EpiPen, the life-saving allergy treatment device which cost about $US57 ($74) in 2007 and is priced at around $US600 ($782) today.

Mylan Pharmaceuticals, the makers of the EpiPen, spent the past decade making sure that its life-saving allergy product was in as many US public schools as possible. But the company has come under fire in recent weeks for raising the price of the drug from roughly $US57 ($75) in 2007 to about $US600 ($791) today -- all for about $1 worth of medicine. Now the New York Attorney General's Office is investigating whether Mylan broke antitrust laws in the contracts it made with schools.

Pharmaceutical company Mylan has announced plans to launch its first generic EpiPen. But at a cost of $US300 ($397) -- which is half of the branded product's list price -- it's still a heap of money for this critically important medicine.

EpiPen, the life-saving allergy product, is now a $US1 billion ($1.3 billion) a year business for Mylan, a drug company that's currently enduring a wave of bad publicity over the extraordinary surge in US EpiPen pricing. In 2007, an EpiPen in the US cost about $US57 ($75). Today that price has skyrocketed to over $US600 ($787) -- all for about $1 worth of injectable medicine.