The High Cost of Staying Alive
Aug 24, 2016 09:06:15 #
The price of the EpiPen has risen to the $600 - $700 range. Considering the tiny amount of medication contained in that vial, epinephrine must be the most expensive stuff on earth. We should all be thankful that we have dedicated pharmaceutical companies willing to keep this life-saving product available for people who need it, regardless of price.
https://www.washingtonpost.com/news/to-your-health/wp/2016/08/23/u-s-lawmakers-demand-investigation-of-100-price-hike-of-life-saving-epipens/?wpisrc=nl_rainbow&wpmm=1
https://www.washingtonpost.com/news/to-your-health/wp/2016/08/23/u-s-lawmakers-demand-investigation-of-100-price-hike-of-life-saving-epipens/?wpisrc=nl_rainbow&wpmm=1
Aug 24, 2016 09:10:33 #
Aug 24, 2016 09:19:36 #
jerryc41 wrote:
The price of the EpiPen has risen to the $600 - $7... (show quote)
I like to think there's a special place in hell for people that set prices like this.
Aug 24, 2016 09:31:23 #
Marionsho wrote:
I like to think there's a special place in hell for people that set prices like this.
I hope so.
Aug 25, 2016 06:40:39 #
Marionsho wrote:
I like to think there's a special place in hell for people that set prices like this.
I agree.....The hell for the person responsible for this is the CEO Suite......The CEO was hired in at a little over two million and during her tenure she has gotten salary bumps up to over 19 Million......the salary increases were in conjunction with the price increases on the medication. The CEO has a father in congress, so I guess she comes by this naturally. Supposedly there is a congressional investigation into this matter underway.
Aug 25, 2016 06:52:43 #
Marionsho wrote:
I like to think there's a special place in hell for people that set prices like this.
But they're going to have a great time getting there.
Aug 25, 2016 07:47:29 #
imntrt1 wrote:
The CEO has a father in congress, so I guess she comes by this naturally. Supposedly there is a congressional investigation into this matter underway.
And her father's friends are leading the investigation, right?
Aug 25, 2016 08:57:30 #
From the Washington Post -
https://www.washingtonpost.com/news/powerpost/wp/2016/08/24/ceo-at-center-of-epipen-price-hike-controversy-is-sen-joe-manchins-daughter/?wpisrc=nl_rainbow&wpmm=1
https://www.washingtonpost.com/news/powerpost/wp/2016/08/24/ceo-at-center-of-epipen-price-hike-controversy-is-sen-joe-manchins-daughter/?wpisrc=nl_rainbow&wpmm=1
Aug 25, 2016 08:57:39 #
FrankR
Loc: NYC
A company representative naturally cited rising costs as the reason for the price hike. I wonder if the CEO's 671% salary increase had anything to do with it??
Aug 25, 2016 09:22:21 #
Marionsho wrote:
I like to think there's a special place in hell for people that set prices like this.
Amen to that. Talk about price gouging.
Aug 25, 2016 09:46:03 #
jerryc41 wrote:
The price of the EpiPen has risen to the $600 - $7... (show quote)
The price of a l ml ampule is $4.49, and Mylan wants a paycheck for one Epi-pen? What part of 'greedy' doesn't this CEO understand? Mylan is a generic drug company. They use the patents of other companies when the patent date runs out so they don't have to spend multi-millions of dollars on Research and Development, so what is their excuse for ripping of the public so badly? Seems that there are a lot of greedy people running these companies who could care less that people can't afford their products and figure that the ever escalating cost of health insurance will pay for it. And this is a woman who's father is a Senator representing a political party that is always ranting about the "greedy capitalists". Hmmmm. How does that work? There is a certain irony/hypocrisy at work here.
http://www.acesurgical.com/epinephrine-1-1-000-1ml-amp.html
Aug 25, 2016 10:43:23 #
jerryc41 wrote:
And her father's friends are leading the investigation, right?
I believe the CEO's father is the Democratic Senator from WV. And her salary has gone up something like 700% in the last 6 years or so. NOBODY is happy being a lowly millionaire. You MUST be a billionaire.
Aug 25, 2016 11:05:10 #
FrankR wrote:
A company representative naturally cited rising costs as the reason for the price hike. I wonder if the CEO's 671% salary increase had anything to do with it??
I have never been in business so I have no idea what the average markup over cost is made to maintain a decent profit margin, but if all it takes is $1 to produce this product, what would the price be under normal circumstances with a company president who has a conscience in her brain instead of an abacus?
Aug 25, 2016 11:32:59 #
Big Bill
Loc: Phoenix, AZ
Mylan has moved to reduce the price after the firestorm...
http://money.cnn.com/2016/08/25/news/companies/mylan-epipen/
http://money.cnn.com/2016/08/25/news/companies/mylan-epipen/
Aug 25, 2016 11:47:47 #
Big Bill wrote:
Mylan has moved to reduce the price after the firestorm...
http://money.cnn.com/2016/08/25/news/companies/mylan-epipen/
http://money.cnn.com/2016/08/25/news/companies/mylan-epipen/
That is just so much horse-puckies!
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