We need to look into EpiPen
The makers of EpiPen testified in front of Congress -- and it was an epic fail.
They failed to justify their 500% price increase, their 600% increase in executive pay, or their tax-dodging move of corporate offices to the Netherlands.1
Join our campaign to tell the FTC to investigate Mylan for price-gouging and anti-competitive behavior.
Since acquiring the product in 2007, Mylan has raised the price of an EpiPen two-pack from a little over $90 to more than $600.2
Imagine you’re the parent of a child who suffers severe allergic reactions. You depend on the EpiPen to keep your child safe. But now you face a $600 bill for the same product that costs you $90 a few years ago -- for no good reason.
Meanwhile, Mylan’s CEOs are cashing in: their combined pay of $292.1 million “outpaced” larger rival companies like Johnson & Johnson and Pfizer.3
What did they and Mylan do to deserve such a generous raise?
In terms of medical research? Nothing -- the firm didn’t create the EpiPen. They just bought the patent a decade ago.4
In terms of increasing market share? Plenty -- including state and federal laws requiring or incentivizing schools to stock their product.5 And the firm has done plenty more to dodge taxes -- Mylan recently reincorporated in the Netherlands.6
Meet the new poster child for anti-competitive, anti-consumer corporate behavior.
We’re calling on the FTC to investigate Mylan.
1. Letter from the Office of Governor Jerry Brown, September 16, 2016.
2. “An EpiPen is 500% more expensive than it was in 2007—here’s how that happened,” Business Insider, August 24, 2016.
3. “EpiPen Maker Dispenses Outsize Pay,” The Wall Street Journal, September 13, 2016.
4. “EpiPens cost just several dollars to make. Customers pay more than $600 for them,” CNBC.com, August 25, 2016.
5. “How Mylan, the maker of the EpiPen, became a virtual monopoly,” The Washington Post, August 25, 2016.
6. “Another reason to hate Mylan, which jacked up the price of the life-saving EpiPens: It’s a tax dodger,” The Los Angeles Times, August 23, 2016.