mylan

A new drug that may help lots of people will apparently be more expensive than it should

Pretomanid, developed by the non-profit TB Alliance, offers a new, safer and more effective treatment for tuberculosis. The non-profit is organized to improve access and affordability of life-saving treatments, but has currently only allowed one drug manufacturer to produce pretomanid. Doctors without Borders fears high prices will limit availability.

NPR:

"In all of the lower-income countries, we will be encouraging other manufacturers, generic manufacturers, to get into the market — to get competition to drive down the price as well," he says.

But Lynch of Doctors Without Borders thinks there is a better way to keep these drugs affordable: baking a low-price requirement into the TB Alliance's licensing agreement with Mylan, which the organizations have not disclosed.

"What works even better than competition — which, by the way, will take a while — is you set the price reasonably low to begin with," she says.

Read the rest

There's an EpiPen shortage. Parents of kids with serious allergies prepare for back-to-school without the life saving medication.

The EpiPen is a widely used medical device that delivers emergency medication to prevent someone with a severe allergic reaction from going into anaphylactic shock. There's a shortage of EpiPens across the United States. Parents of kids with serious allergies are worried about sending their kids back to school without one. Read the rest

Epipen: Mylan and Pfizer let people die while jacking up prices on defective devices, says FDA

The FDA's Sept 6 warning letter to Epipen manufacturer Meridian (a division of Pfizer) condemns the company for knowingly shipping out defective products that led to the death of the customers who paid hyper-inflated prices for the devices, which Meridian manufactured for notorious pharma profiteers Mylan. Read the rest

Shareholder revolt at Mylan over Epipen-gouging CEO's $98M bonus

The board of directors at Mylan have rewarded former CEO Robert Coury with a $98m bonus as he steps into the executive chairman's role, having overseen a price-gouging scandal over the Epipens used by people prone to life-threatening allergic reactions. Read the rest

Makers of EpiPen overcharged US taxpayers $1.27 billion, says federal government

Didn't it seem strange that Mylan, the pharmaceutical company that makes the EpiPen, enjoyed a stock price rally when the news came out in October that it was going to have to give the US government $465 million for overcharging Medicare? Well, the Department of Health and Human Services' Office of Inspector General says that Mylan overcharged taxpayers by $1.27 billion, making the half-billion dollar payout a simple cost-of-doing business expense.

Mylan, the scummy firm that jacked up the price of a single EpiPen injector from $57 to $500, deliberately misclassified the EpiPen as a generic drug, which allowed them to charge more for the life-saving medication.

From Gizmodo:

The late afternoon news dropped the stock price of Mylan by 1 percent and tomorrow’s trading will show just how big a deal for the company this problem will be in the short term. Shareholders are pissed and a group of four institional investors are calling for six directors of the company to be blocked from reelection. The investors say that the directors have caused Mylan “significant reputational and financial harm.”

From NBC:

Mylan didn't invent the EpiPen, it acquired it in 2007, getting a drug that had been approved since 1987 and had 90 percent market dominance. Nor does it manufacture the EpiPen itself. Mylan buys it from a wholly owned Pfizer subsidiary for $34.50 per pen.

Mylan Chairman Robert Coury made $160 million 2016.

From a CNBC interview with Mylan CEO Heather Bresch:

CNBC’s Brian Sullivan interjected, asking her to explain how the price of the drug could go from $100 five years ago to $600 today.

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CVS is making a generic epipen: $110/2 pens

The price of Epipens -- purchased annually by people with severe allergies and stocked in the first-aid cabinets of schools, businesses, and ambulances -- more than quintupled in a decade, thanks to the tactics of Mylan CEO Heather Bresch (daughter of Senator Joe Manchin [D-WV]), who took home a 671% raise for her work, which raised this lifesaving technology's pricetag beyond the reach of many people, who turned to low-cost DIY alternatives. Read the rest

DIY Epipen: the $30 Epipencil

Mylan, the company with a monopoly on FDA-improved epinephrine auto-injectors ("epipens") has quintupled the price of their life-saving technology since 2004, to $600/unit (and they have the be thrown out and replaced every year); for this, Mylan CEO Heather Bresch (daughter of US senator Joe Manchin, who secured her initial job interview through political connections while he was Governor of West Virginia, moving her laterally from her gig as an aerobics instructor) received a 671% raise , bringing her compensation up to $18,931,068. Read the rest

Mylan CEO raises price of EpiPens over 400% in 9 years, is rewarded with 671% raise

The head of the pharmaceutical company that makes EpiPens raised the price of the life-saving device by over 400%. She was rewarded with a 671% raise. Read the rest

Epipens have more than quintupled in price since 2004

Epipens -- self-injection sticks carried by people with deadly allergies, which have to be replaced twice a year -- were developed by NASA at taxpayer expense, were patented by a government scientist who receives no royalties, require no marketing, and have gone from as little as $60 each to up to $606 in a few short years (during which time the company has switched to selling them exclusively in two-packs). Read the rest

New and better adrenaline autoinjectors for people with life-threatening allergies

Good news for people with life-threatening allergies who need to carry around EpiPen injectors. A new auto-injector is coming that is smaller and has a longer shelf life. It's called Abiliject. Read the rest

Pfizer threatens pharmacists, doctors if they take its name in vain

Pfizer's patent on pregabalin -- an anti-epilepsy med -- expires this year, but there's another patent on using the public domain drug to treat neuropathic pain; in a shocking letter to UK doctors, the pharma giant warns of dire consequences should medical professionals dare to prescribe the generic for the patented use. Read the rest

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