Current Events Blog for Mrs. Countryman's AP United States History class at Booker T Washington High School for the Performing and Visual Arts in Dallas, Texas.
Saturday, September 3, 2016
Emma Sutherland - EpiPen main ingredient costs 'less than a Big Mac'
SUMMARY:
Mark Baum, Imprimis CEO, announces that his company will be coming out with a "compounded version of EpiPen" in the future. He reveals that the main ingredient in EpiPens costs no more than a few dollars, which is surprising considering the recent 400% increase in EpiPen prices presented by Mylan (MYL). Baum later confirms that the cost of one milligram of epinephrine (three times the amount needed in an EpiPen), is "literally less than the cost of a Big Mac" at McDonald's. Additionally, he reports that his company is aiming at less than $100 for their version of the EpiPen that they have been working on.
Baum discusses how his company has already taken on the task and succeeded in lowering the cost on an expensive drug. Last year, when the AIDS drug Daramprim experienced a 5,000% increase in cost, Baum's company launched a $1 alternative and subsequently produced about 17,000 doses of their version. He believes that Imprimis can accomplish this same feat with their EpiPen. The CEO describes how his company is not nearly as huge or successful as Mylan, the company that released the 400% increase, but he insists that Imprimis "focuses on quality and has a deep understanding of epinephrine". The company plans on releasing this alternative to EpiPen by the end of this year.
ANALYSIS:
Before reading this article, I had been informed of the recent spike in the EpiPen prices as it was all over the news and in various media outlets. It was astonishing to think that someone had to pay that much for a life-saving medication! I wondered why a company would increase the cost so much, and it makes me relieved to see someone like Mark Baum take action. I was shocked at the actual cost of the EpiPen, but not surprised as pharmaceutical companies seem to be in the business of making money and achieving huge profit margins. Baum's new venture is similar to the past events and actions of Imprimis to the Daraprim AIDS drug, where they lowered the prices for consumers. It's impressive to see Imprimis' dedication to quality at a lower cost, forsaking excessive profit margins, and their willingness to take on such a controversial issue. This article was written to raise awareness of EpiPen users... giving them hope that they will no longer have to gouge themselves to buy this lifesaving drug. The release of this article could not have come at a better time, creating a positive influence on the audience because by announcing the project this early, it most likely calmed their fear and panic about having no other choice but to pay a quadruple increase in a much needed medication! This article shows that not all companies are out for loads of cash, but some do care about citizens' health and plan on addressing the issue. Imprimis is setting a great example for companies out there hoping to improve the nation's health!
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That is a good way to improve a nation's health, though. It's not exactly fair to those who can't by these type of things if they're most expensive.
ReplyDeleteI'm glad to see people taking action in this EpiPen crisis. I saw many articles in last week's blog that had to do with the rising prices.
ReplyDeleteLiterally, it's so unfortunate that even though the cost of the ingredients is so cheap, the cost of the actual product is so high. It's definitely upsetting for people who could be affected because they don't have the money to buy the product. I sure hope prices will eventually decrease.
ReplyDeleteIt's so awful that pharmaceutical drug companies can get away with these huge prices on life-saving medications. I think it's amazing that people are finally getting involved and that there is a solution for those in need!
ReplyDeleteI do not think this is fair when so many people need EpiPens to save their lives. EliPens are way too common for them to be at such a high price for low ingredients inside of them. Although this could be an extremely long process of getting the prices lowered, I hope it happens as soon as possible.
ReplyDelete-Ava Noble
EpiPens are used by so many people, and it's unfortunate that pharmacies have gotten away with such high prices. I'm glad that people are working on a solution which I hope will take place soon!
ReplyDeleteI'm amazed at what some people will do for money. The C.E.O of Epipen received a huge salary increase when then jacked up the price. Increasing Epipens to $6oo puts peoples lives in danger that simply can't afford it. Medicine needed for survival shouldn't be priced as a luxury, or considered one. I'm glad that a cheaper alternative will be on the market soon- a relief for middle class families I'm sure.
ReplyDeleteIt is so good to hear that they are working towards a way for everyone to be able purchase an epipen without spending so much money on a necessity
ReplyDeleteI like how people are taking different and helpful approaches to solving the Epipen problem. It's good that people are starting fundraisers to try and help give money to the people who need it. - Skyler Tepedino
ReplyDelete