EpiPen Pricing Backlash Spurs Mylan To Offer More Discounts
The drugmaker announces that it will increase its copay savings card amount and expand eligibility for financial assistance. The move comes after a flurry of news stories questioning Mylan's pricing spike for the lifesaving allergy medication, as well as pressure from lawmakers including Hillary Clinton.
The New York Times:
Mylan To Lower EpiPen Cost For Some Patients
Responding to a growing furor from consumers and politicians, the pharmaceutical company Mylan said on Thursday that it would lower the cost to some patients of the EpiPen, which is used to treat life-threatening allergy attacks. The company said it would take immediate action, including providing a savings card that would cover up to $300 of the cost of a pack of two EpiPens, an increase from the $100 savings card it had been offering. (Pollack, 8/25)
The Wall Street Journal:
Mylan Boosts Assistance For EpiPen After Pricing Backlash
After widespread criticism recently, Mylan said Thursday it would expand access and increase benefits to programs that it uses to help consumers pay less, but those changes wouldn’t alter the prices that insurers and employers pay. Those institutions will still face the brunt of the impact from the price hikes, though they are frequently able to privately negotiate cheaper prices than the ones listed. (Hufford and Rockoff, 8/25)
Stat:
Mylan May Have Violated Antitrust Law In Its EpiPen Sales To Schools
Schools across the country keep EpiPens in their nurses’ offices in case a student has a severe allergic reaction. For years, Mylan Pharmaceuticals has been selling the devices to schools at a discounted price, giving them a break from rising costs. But the program also prohibited schools from buying competitors’ devices — a provision that experts say may have violated antitrust law. (Swetlitz and Silverman, 8/25)
Stat:
Mylan Price Hikes On Many Other Drugs Eclipsed EpiPen Increases
EpiPen price hikes may be causing outrage, but those pale in comparison to the huge increases that Mylan Laboratories took on dozens of other medicines earlier this year. For instance, the company raised the price of ursodiol, a generic medicine used to treat gallstones, by 542 percent. There was also a 400 percent boost in the price for dicyclomine, which combats irritable bowel syndrome, and a 312 percent increase for metoclopramide, a generic drug that treats gastroesophageal reflux disease. (Silverman, 8/24)
Bloomberg:
Clinton’s Attacks On Drug Pricing Leave Health Stocks Reeling
Drugmakers are learning to duck for cover when Hillary Clinton puts them in her sights. The Democratic presidential nominee’s influence was on display again Wednesday, when she sent Mylan NV’s shares plummeting as much as much as 6.2 percent within minutes of calling for the company to drop prices of its EpiPen emergency allergy shot. It marked the third time over the past year that Clinton’s comments roiled drug stocks. (Edney, 8/24)