The graph of epipen pricing over time at the bottom of the article is jaw dropping. "Did we get in trouble yet? No? Add another 10% then".
Only imaginary books on Amazon have price curves like that.
> The graph of epipen pricing over time at the bottom of the article is jaw dropping. "Did we get in trouble yet? No? Add another 10% then". Only imaginary books on Amazon have price curves like that.
Looks perfectly reasonable to me. Captive market, zero competition, reasonably fixed demand, and (best of all) disconnect between the person making the purchasing decisions and the one actually footing the bill.
This is the healthcare system our elected representatives have created for us. Either embrace it (which I guess means investing in an overweight portfolio of pharma companies) or send them a message to correct the core of the problem.
Its a media show... The drug in question only applies to 3000 people, has no patent on it (anyone can manufacture it), is currently the lowest price in its category, costs $20 if you have insurance, is free if you have no insurance.
They are talking about impoverished women with AIDS in Africa - and the drug company only has a license for the US, the drug itself has nothing to do with AIDS, and is free for half the patients and a $20 co-pay for the other half.
This is what Shkreli has counted on you believing. The cost is NOT $20. The co-pay is. The amount paid by your insurer is well into the four digits.
Your insurer isn't an endowment, it isn't a charity. Notwithstanding a few percent ROI on investing premiums, the only person paying these four digits is you. Or your employer. It's just amortized and spread among a group.
"It's not that bad, it's really only $20" is the big trick here. A much higher amount is being billed, and paid, even after negotiation. It's not coming from a magic money fairy.
No, this is not an 'ideal' market. Mylan was able to exert significant control over the demand by getting recommendations changed (you now need two EpiPens, rather than one), and getting EpiPens required in many schools, etc.
I can't imagine anyone recommending having less than two pens: what if one fails due to a manufacturing flaw, user error (e.g. it would suck to fumble it in the heat of action and drop it in an unacceptable location), etc.? And isn't a second dose sometimes needed?
I don't know the details, but I do know my sister always carried two for her eldest (past tense because he's now in college and presumably carrying them himself now).
And state legislation mandating that medic units carry multiple EpiPens.
Medic units, that have trained personnel, that have all the equipment to draw up Epi from a $3 vial themselves, who are already on scene.
This leads to my county alone having to throw away $130,000/yr of EpiPens that don't get used before they expire. Because the state legislates that we're required to carry them.
