Senator's daughter who raised price of EpiPen got $19 million salary, perks in 2015
- Thread starter Padawanbater2
- Start date
ttystikk
Well-Known Member
All those lobbying and campaign bribery costs add up, yanno...
SOMEBODY has to pay for it.
squarepush3r
Well-Known Member
https://mises.org/blog/lack-epipen-competitors-fdas-fault
The Lack of EpiPen Competitors is the FDA's Fault
Tags Big GovernmentHealth
08/24/2016Jonathan Newman
There’s a new bout of outrage over an expensive medicine or medical treatment. While the good in question changes each time, the blame always seems to fall on greedy corporations who just aren’t regulated enough. Free markets and capitalism are the scapegoat, even when nothing remotely resembling unhampered markets in health care is in place in the United States.
This time, it’s the EpiPen, a device that easily and safely injects epinephrine to quickly open up airways for people undergoing severe anaphylaxis because of an extreme allergy. It has saved the lives of countless people who are allergic to bee stings, certain foods, or other drugs because it can be administered on the spot by somebody without any medical training.
EpiPen is sold by Mylan, and the price for a pack of two has increased from about $100 in 2007 to over $600 as of May 2016. Mylan has tried to quell the storm by pointing out that many of their customers pay nothing for the drug because of insurance. Their deflection has been unsuccessful.
The economist looks for competitors in cases like this. A firm cannot just willy-nilly raise their prices without a competing firm leaping in to give consumers what they want at a lower price. As it turns out, Mylan has a great friend who keeps would-be competitors out of the market, or at least makes it so difficult for them that they eventually go out of business. That friend is the FDA.
With the FDA, patents, and cozy insurance relationships, Mylan has been able to steadily increase the price of EpiPens without significant market repercussions. Though, the current backlash may push many patients and doctors to look for alternatives. The only problem is that alternatives are few and far between because of government interventions.
Epinephrine is extremely cheap—just a few cents per dose. The complications come from producing the easy auto-injecting devices. Mylan “owns” their auto-injector device design, so competitors must find work-arounds in their devices to deliver the epinephrine into the patient’s body. This task, coupled with the tangled mess of FDA red tape, has proven to be difficult for would-be EpiPen competitors. It’s like expecting somebody to come up with a new way to play baseball without bases, balls, gloves, or bats, but still getting the game approved by the MLB as a baseball game substitute.
A French pharmaceutical company offered an electronic device that actually talks people through the steps of administering the drug, but it was recalled because of concerns about it delivering the required dose. Just this year, Teva Pharmaceutical’s attempt at bringing a generic epinephrine injector to market in the US was blocked by the FDA. Adrenaclick and Twinject were unable to get insurance companies on board and so discontinued their injectors in 2012.
Adrenaclick has since come back, but it is still not covered by many insurance plans, and the FDA has made it illegal for pharmacies to substitute Adrenaclick as a generic alternative to EpiPen. Another company tried to sidestep the whole auto-injector patent barrier by offering prefilled syringes, but the FDA has stalled them, too.
Mylan has been repeatedly protected from competition, and it has repeatedly (and predictably) increased the price of EpiPens in response. Allowing all of these companies to compete in producing epinephrine auto-injectors would be the best course for all of the many patients who want a cheaper solution for severe allergic reactions.
One thing is for sure: capitalism is not to blame. Government regulations have choked this market and many others. What we need is a big dose of freedom.
Note: An earlier version cited the original 1977 patent for the EpiPen. While it has expired, since 1977 EpiPen producers have been able to secure multiple patents for other aspects and variations of the design and small parts associated with the design. A link to one of these patents has replaced the original link to the 1977 patent, above.
Jonathan Newman is a recent graduate of Auburn University and a Mises Institute Fellow. Contact: email
The Lack of EpiPen Competitors is the FDA's Fault
Tags Big GovernmentHealth
08/24/2016Jonathan Newman
There’s a new bout of outrage over an expensive medicine or medical treatment. While the good in question changes each time, the blame always seems to fall on greedy corporations who just aren’t regulated enough. Free markets and capitalism are the scapegoat, even when nothing remotely resembling unhampered markets in health care is in place in the United States.
This time, it’s the EpiPen, a device that easily and safely injects epinephrine to quickly open up airways for people undergoing severe anaphylaxis because of an extreme allergy. It has saved the lives of countless people who are allergic to bee stings, certain foods, or other drugs because it can be administered on the spot by somebody without any medical training.
EpiPen is sold by Mylan, and the price for a pack of two has increased from about $100 in 2007 to over $600 as of May 2016. Mylan has tried to quell the storm by pointing out that many of their customers pay nothing for the drug because of insurance. Their deflection has been unsuccessful.
The economist looks for competitors in cases like this. A firm cannot just willy-nilly raise their prices without a competing firm leaping in to give consumers what they want at a lower price. As it turns out, Mylan has a great friend who keeps would-be competitors out of the market, or at least makes it so difficult for them that they eventually go out of business. That friend is the FDA.
With the FDA, patents, and cozy insurance relationships, Mylan has been able to steadily increase the price of EpiPens without significant market repercussions. Though, the current backlash may push many patients and doctors to look for alternatives. The only problem is that alternatives are few and far between because of government interventions.
Epinephrine is extremely cheap—just a few cents per dose. The complications come from producing the easy auto-injecting devices. Mylan “owns” their auto-injector device design, so competitors must find work-arounds in their devices to deliver the epinephrine into the patient’s body. This task, coupled with the tangled mess of FDA red tape, has proven to be difficult for would-be EpiPen competitors. It’s like expecting somebody to come up with a new way to play baseball without bases, balls, gloves, or bats, but still getting the game approved by the MLB as a baseball game substitute.
A French pharmaceutical company offered an electronic device that actually talks people through the steps of administering the drug, but it was recalled because of concerns about it delivering the required dose. Just this year, Teva Pharmaceutical’s attempt at bringing a generic epinephrine injector to market in the US was blocked by the FDA. Adrenaclick and Twinject were unable to get insurance companies on board and so discontinued their injectors in 2012.
Adrenaclick has since come back, but it is still not covered by many insurance plans, and the FDA has made it illegal for pharmacies to substitute Adrenaclick as a generic alternative to EpiPen. Another company tried to sidestep the whole auto-injector patent barrier by offering prefilled syringes, but the FDA has stalled them, too.
Mylan has been repeatedly protected from competition, and it has repeatedly (and predictably) increased the price of EpiPens in response. Allowing all of these companies to compete in producing epinephrine auto-injectors would be the best course for all of the many patients who want a cheaper solution for severe allergic reactions.
One thing is for sure: capitalism is not to blame. Government regulations have choked this market and many others. What we need is a big dose of freedom.
Note: An earlier version cited the original 1977 patent for the EpiPen. While it has expired, since 1977 EpiPen producers have been able to secure multiple patents for other aspects and variations of the design and small parts associated with the design. A link to one of these patents has replaced the original link to the 1977 patent, above.
Jonathan Newman is a recent graduate of Auburn University and a Mises Institute Fellow. Contact: email
ttystikk
Well-Known Member
Well put. Removing artificial, government erected barriers to competition would indeed drive the cost down to $20 a pen or less.https://mises.org/blog/lack-epipen-competitors-fdas-fault
The Lack of EpiPen Competitors is the FDA's Fault
119 Comments
Tags Big GovernmentHealth
08/24/2016Jonathan Newman
There’s a new bout of outrage over an expensive medicine or medical treatment. While the good in question changes each time, the blame always seems to fall on greedy corporations who just aren’t regulated enough. Free markets and capitalism are the scapegoat, even when nothing remotely resembling unhampered markets in health care is in place in the United States.
This time, it’s the EpiPen, a device that easily and safely injects epinephrine to quickly open up airways for people undergoing severe anaphylaxis because of an extreme allergy. It has saved the lives of countless people who are allergic to bee stings, certain foods, or other drugs because it can be administered on the spot by somebody without any medical training.
EpiPen is sold by Mylan, and the price for a pack of two has increased from about $100 in 2007 to over $600 as of May 2016. Mylan has tried to quell the storm by pointing out that many of their customers pay nothing for the drug because of insurance. Their deflection has been unsuccessful.
The economist looks for competitors in cases like this. A firm cannot just willy-nilly raise their prices without a competing firm leaping in to give consumers what they want at a lower price. As it turns out, Mylan has a great friend who keeps would-be competitors out of the market, or at least makes it so difficult for them that they eventually go out of business. That friend is the FDA.
With the FDA, patents, and cozy insurance relationships, Mylan has been able to steadily increase the price of EpiPens without significant market repercussions. Though, the current backlash may push many patients and doctors to look for alternatives. The only problem is that alternatives are few and far between because of government interventions.
Epinephrine is extremely cheap—just a few cents per dose. The complications come from producing the easy auto-injecting devices. Mylan “owns” their auto-injector device design, so competitors must find work-arounds in their devices to deliver the epinephrine into the patient’s body. This task, coupled with the tangled mess of FDA red tape, has proven to be difficult for would-be EpiPen competitors. It’s like expecting somebody to come up with a new way to play baseball without bases, balls, gloves, or bats, but still getting the game approved by the MLB as a baseball game substitute.
A French pharmaceutical company offered an electronic device that actually talks people through the steps of administering the drug, but it was recalled because of concerns about it delivering the required dose. Just this year, Teva Pharmaceutical’s attempt at bringing a generic epinephrine injector to market in the US was blocked by the FDA. Adrenaclick and Twinject were unable to get insurance companies on board and so discontinued their injectors in 2012.
Adrenaclick has since come back, but it is still not covered by many insurance plans, and the FDA has made it illegal for pharmacies to substitute Adrenaclick as a generic alternative to EpiPen. Another company tried to sidestep the whole auto-injector patent barrier by offering prefilled syringes, but the FDA has stalled them, too.
Mylan has been repeatedly protected from competition, and it has repeatedly (and predictably) increased the price of EpiPens in response. Allowing all of these companies to compete in producing epinephrine auto-injectors would be the best course for all of the many patients who want a cheaper solution for severe allergic reactions.
One thing is for sure: capitalism is not to blame. Government regulations have choked this market and many others. What we need is a big dose of freedom.
Note: An earlier version cited the original 1977 patent for the EpiPen. While it has expired, since 1977 EpiPen producers have been able to secure multiple patents for other aspects and variations of the design and small parts associated with the design. A link to one of these patents has replaced the original link to the 1977 patent, above.
Jonathan Newman is a recent graduate of Auburn University and a Mises Institute Fellow. Contact: email
Pitchforks might also work... both for the greedy executives who lobby the FDA to limit competition so they can get away with shit like this and a judicial system that condones it, because somehow contract law is a higher priority than the public good.
Fogdog
Well-Known Member
did you even read what you posted? I assume you just focus on the FDA part of three causes for market restrictions. For your edification, I'll post up the nub of the reason for price gouging:https://mises.org/blog/lack-epipen-competitors-fdas-fault
The Lack of EpiPen Competitors is the FDA's Fault
119 Comments
Tags Big GovernmentHealth
08/24/2016Jonathan Newman
There’s a new bout of outrage over an expensive medicine or medical treatment. While the good in question changes each time, the blame always seems to fall on greedy corporations who just aren’t regulated enough. Free markets and capitalism are the scapegoat, even when nothing remotely resembling unhampered markets in health care is in place in the United States.
This time, it’s the EpiPen, a device that easily and safely injects epinephrine to quickly open up airways for people undergoing severe anaphylaxis because of an extreme allergy. It has saved the lives of countless people who are allergic to bee stings, certain foods, or other drugs because it can be administered on the spot by somebody without any medical training.
EpiPen is sold by Mylan, and the price for a pack of two has increased from about $100 in 2007 to over $600 as of May 2016. Mylan has tried to quell the storm by pointing out that many of their customers pay nothing for the drug because of insurance. Their deflection has been unsuccessful.
The economist looks for competitors in cases like this. A firm cannot just willy-nilly raise their prices without a competing firm leaping in to give consumers what they want at a lower price. As it turns out, Mylan has a great friend who keeps would-be competitors out of the market, or at least makes it so difficult for them that they eventually go out of business. That friend is the FDA.
With the FDA, patents, and cozy insurance relationships, Mylan has been able to steadily increase the price of EpiPens without significant market repercussions. Though, the current backlash may push many patients and doctors to look for alternatives. The only problem is that alternatives are few and far between because of government interventions.
Epinephrine is extremely cheap—just a few cents per dose. The complications come from producing the easy auto-injecting devices. Mylan “owns” their auto-injector device design, so competitors must find work-arounds in their devices to deliver the epinephrine into the patient’s body. This task, coupled with the tangled mess of FDA red tape, has proven to be difficult for would-be EpiPen competitors. It’s like expecting somebody to come up with a new way to play baseball without bases, balls, gloves, or bats, but still getting the game approved by the MLB as a baseball game substitute.
A French pharmaceutical company offered an electronic device that actually talks people through the steps of administering the drug, but it was recalled because of concerns about it delivering the required dose. Just this year, Teva Pharmaceutical’s attempt at bringing a generic epinephrine injector to market in the US was blocked by the FDA. Adrenaclick and Twinject were unable to get insurance companies on board and so discontinued their injectors in 2012.
Adrenaclick has since come back, but it is still not covered by many insurance plans, and the FDA has made it illegal for pharmacies to substitute Adrenaclick as a generic alternative to EpiPen. Another company tried to sidestep the whole auto-injector patent barrier by offering prefilled syringes, but the FDA has stalled them, too.
Mylan has been repeatedly protected from competition, and it has repeatedly (and predictably) increased the price of EpiPens in response. Allowing all of these companies to compete in producing epinephrine auto-injectors would be the best course for all of the many patients who want a cheaper solution for severe allergic reactions.
One thing is for sure: capitalism is not to blame. Government regulations have choked this market and many others. What we need is a big dose of freedom.
Note: An earlier version cited the original 1977 patent for the EpiPen. While it has expired, since 1977 EpiPen producers have been able to secure multiple patents for other aspects and variations of the design and small parts associated with the design. A link to one of these patents has replaced the original link to the 1977 patent, above.
Jonathan Newman is a recent graduate of Auburn University and a Mises Institute Fellow. Contact: email
"With the FDA, patents, and cozy insurance relationships, Mylan has been able to steadily increase the price of EpiPens without significant market repercussions. Though, the current backlash may push many patients and doctors to look for alternatives. The only problem is that alternatives are few and far between because of government interventions."
I very much doubt that you have more insight into the problem than what was said in those sentences. Sure the FDA has a role in this. I'd be willing to bet that lobbying by Mylan has a lot to do with why the FDA hasn't cleared other products. Another possibility is that the other products aren't ready for the US market. No doubt the patent is an obstruction. If you've ever dealt with insurance companies, this can explain everything. They really don't care about anything other than their own profits.
Maybe the connections in congress had something to do with it too? After all, look at who runs the firm. Talk about connections.
Absolutely, capitalism is a major reason for the blame. Any company that can slash prices in half within a few days and still have almost 500% profit margin is definitely in a monopoly position. Monopolies must operate under different rules. Just because "regulators" haven't crashed down on them doesn't mean it's OK to gouge everybody. And I'm certain this isn't the only example of how the insurance companies have done a worse job than the single payer system would have done.
Fogdog
Well-Known Member
Epipens cost $100 in Canada. Before this whole thing blew up, they cost $500 just across the border. Those greedy executives played our system like it was their own violin. Capitalism isn't at work in the healthcare industry, and Canada shows us that there is an alternative that doesn't open the barn doors to greedy executives to charge whatever the market will bear for life saving medicine.
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SneekyNinja
Well-Known Member
My point was that people seem to just accept a bad deal as long as it comes from "their guy".
IF Bush had come up with the ACA people on this side of tbe aisle would've acted like it was the Final Solution.
Fogdog
Well-Known Member
Bush wouldn't have come up with anything like the ACA. He would have canned Medicaid and Medicare if he could. Where do you get the idea that Bush was some sort of liberal?
SneekyNinja
Well-Known Member
It was a hypothetical example dude using Bush because he was so "popular" with Democrats, try work with me here.
IF Bush hadve tried to give insurance companies a captive market like Obama did, Democrats would've called him a right wing Nazi.
Obama couldve simply regulated the insurance market to achieve the good parts of the ACA.
Fogdog
Well-Known Member
I can't because it's not even close to reality. Bush was not liberal nor ever would have done what you hypothesize.
If a liberal Republican President president ever takes office, I wouldn't simply reject everything they do, if that's what you are implying, it is false.
Obama worked with a deadline of two years to get something through congress that was already full of hostiles. He pushed through an act that helped millions and is better than what we had before. Insurance companies were price gouging families that were not covered under a large company's plan and the excluded people with pre-existing conditions or priced them out of the market. They can't do that any more. The ACA is better than what we had under Bush. This Epipen fiasco is highlighting how much more remains to be done.
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SneekyNinja
Well-Known Member
Imo, it's needs to be knocked down and built back up from the start.
Fuck the insurance companies, fuck privately owned hospitals.
Padawanbater2
Well-Known Member
Don't blame capitalism guis!
https://fee.org/articles/don-t-blame-capitalism-for-your-pricey-epipen/
Is there any problem that isn't caused by the government according to the libertarian?
https://fee.org/articles/don-t-blame-capitalism-for-your-pricey-epipen/
Is there any problem that isn't caused by the government according to the libertarian?
SneekyNinja
Well-Known Member
Is there a part of the article you posted that's inaccurate?
Fogdog
Well-Known Member
desert dude
Well-Known Member
Obama Care!
Those pens are free!!
Those pens are free!!
SneekyNinja
Well-Known Member
Free education would be desirable too, train us more doctors.
Wilderb
Well-Known Member
Real example of political favors. Where's the outcry on fox?
Wilderb
Well-Known Member
Umm... it was the Heritage Foundation's idea in the first place.
Illinois Enema Bandit
Well-Known Member
yup & that's us,I have asthma & use inhalers,I could buy 1 at any drug store for $3 before Obama banned them,now I pay $140 at the doctor for the primatine mist I got for $3
Unclebaldrick
Well-Known Member
KCl is cheap.